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Port Taps SoCal Firm for $90M Retail Project

SEATTLE-Privately held Majestic Realty Co. is selected to develop 89 acres just south of Seattle-Tacoma International Airport with a big-box retail development and airport-related uses.

By Brian K. Miller | Updated on May 12, 2008

SEATTLE-The Port of Seattle recently selected one of 10 developers to move forward on an 89-acre retail development on the south side of Seattle-Tacoma International Airport. Majestic Realty Co., a privately held company out of Southern California, will develop the site with a combination of big-box retail stores and airport-related uses, according to the agreement.

The estimated $90-million development is called the Des Moines Creek Business Park. It lies within the City of Des Moines. The undeveloped site is bound by South 208th Street on the north, 24th Avenue South on the east, South 216th Street on the south, and on the west by a portion of Des Moines Creek Park.

The Port of Seattle will be entering into exclusive negotiations for a long-term ground lease with City of Industry, CA-based Majestic that will require the approval of the Port of Seattle Commission. The Port’s media officer Perry Cooper declined to disclose verbally the rent Majestic has proposed to pay and Majestic could not immediately be reached for comment.

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