Bridge Development Secures Land For Its Biggest Seattle Project Yet

Bridge Development Partners has nailed down both entitlements and a ground lease for 117 acres in Milton, Washington, a small town about 30 miles south of Seattle.

The developer, based in Chicago, is planning a four-building, 1.9-million-square-foot industrial park at the site at 38000 S. Milton St., which is about 7 miles east of the Port of Tacoma, where Interstate 5 and the Pacific Highway East almost touch.

In a statement this week, BRIDGE said the project, dubbed the Bridge Point I-5 Seattle, will be its largest since it entered the market in 2018.

On Dec. 23, BRIDGE executed the ground lease with the property owner, Randy Lloyd, who currently operates a gravel mine on the site, according to King County property records. The city of Milton and BRIDGE finalized a master development plan for the site on Dec. 14, though it appears to have been approved by vote in early 2020.

//costar.com