$100M aerospace business park coming to Arlington — Chris Gayte of Bellevue-based GS Venture Partners bought the 54-acre property at 20015 67th Ave. NE that used to house Northwest Hardwood and a Weyerhaeuser log mill.
Gayteway Business Park will offer up to 1 million square feet of custom, build-to-suit, industrial or manufacturing buildings, this development is conveniently located 5 minutes east of I-5 from Exit 206 NB, adjacent to Highway 9 on 67th Avenue.
Development of the vacant 54-acre site will create as many as 2,000 family-wage jobs in Arlington,” Mayor Tolbert said. “This project is a major beginning to boosting the local economy, adding jobs and tax base, as well as branding Arlington as a major destination for industrial growth that is rarely available in Snohomish County.”
City Administrator Paul Ellis called the new project a catalyst for “economic growth in the Arlington area, bringing hundreds of construction jobs, thousands of company employees and increased retail development to the area.”
Developer Chris Gayte, of Bellevue, is the Managing Partner of GS Venture Partners. He bought the 54 acre property in early September and is debuting his Master Plan with creating high-quality, state-of-the-art manufacturing and industrial facilities, building concrete tilt-up buildings.
“This is a rare opportunity to have this much ready-to-develop property in an area with plentiful housing, shopping centers and a transportation grid that provides access to I-5, Highway 9 and 67th Ave. NE, as well as access to the adjacent Arlington Airport,” Gayte said.
“Many manufacturing companies looking to expand into larger buildings in the area, have very few options. The Gayteway Business Park will allow the size of new buildings needed for these companies to expand,” Gayte said.
“Our Master site plan includes 11 buildings, ranging from 41,000 to 200,000 square feet,” Gayte said. “There’s also a railroad going through the property. Burlington Northern has agreed to install two rail spurs on the property, which was an incredible added value. Future tenants could use the tracks for their business. When it’s completely built out the project should have a wide range of businesses employing thousands of people.”
It was not only the large industrial site that attracted Gayte’s attention, it was the city’s positive attitude about economic development.
“The site is great but I was also impressed by the city’s stream-lined permitting process and readiness to help developers,” he said. “Mayor Tolbert and Paul are very pro-development.”