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September 23, 2023
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GXO Logistics Supply Leases 468k sf Industrial Property in Everett, WA


GXO Logistics Supply inked a lease for a 468.3k sf manufacturing/distribution building in the Bomarc Business Park in Everett, WA. GXO is expanding its existing footprint by 35% in the freestanding building, located at 9205 Airport Rd, in addition to extending its lease term.

Built by BOSA Development, the building sits on over 30 acres. It is of institutional quality and features clear heights ranging from 24’ to primarily 27’, dock and grade loading, office and restroom space to support dense occupancy, excellent power, 673 parking stalls, and ESFR sprinklers.

The property’s location provides excellent access to I-5 via WA 526, and is strategically located immediately east of Paine Field Airport with excellent visibility at the intersection of Airport Rd and 94th St SW.

Tom Wilson, Taylor Hudson and Ben Conwell with Cushman & Wakefield represented the landlord in the transaction.

According to Cushman & Wakefield’s latest Q2-2022 industrial market report, the Puget Sound-Eastside industrial market which Everett is located had an overall vacancy of just 2.8% at mid-year, coupled with nearly 700k sf of positive net absorption (occupancy growth) through the first half of 2022. Everett submarket vacancy was even tighter at just 1.6%, with over 200k sf of net occupancy growth in the first half of 2022.

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