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Home My WebLink About62- -- .J L Anyone want to split a lot of Fry's`.' —£�Itronics seller will sell or develop 10 acres by I-405 in Renton By JOE NABBEFELD Journal Real Estate Editor Fr_sh from buying Boeing's 21.3- acre Lot 6 in Renton on which to build a major store. Fry's Electron- ics is already looking at selling half of the prime propem for office or retail development. -They're undecided if thev'll develop it themselves (and lease out the space) or sell it to another user,' said Roland Jones, a retail invest- ment broker for the Staubach Co. who represented Fry's in is recent S 15.2 million purchase of the prop- erty. Others famihar with the Renton marketplace said Fry's appears to be leaning toward putting the property up for sale. Either way, the news means Ren- ton, which has undergone a dramat- ic economic transformation the past couple of years that contmn going full steam, would add not just one, but at least nvo big deve-opnens on what is now a huge parking lot next to Interstate 405. Boeing put Lot 6 up for sale car - her this year after it razed two large structures on Lot 3, immediately west of Lot 6, to shorten workers' walk from cars to the airplane mak- er's Renton Plant. Lot 6 is perhaps most recogniza- ble as last summer's location of Cirque du Soleil's soaring canvas cir- cus rents. Boeing only offered buyers the w hole lot, confirmed the company's broker for selling the lot, Wilma Warshak of Colliers International. Fry's. a fast-growing California chain of large electronics shops that wants to open :s first Washington store, closed last month on buying the 21.3 acres at a price equal to S 16.30 per square foot_ Frv's intends to build a store there up to 150,000 square feet in size. and the Sillicon \'alley -based chain only needs half of the lot_ 'It's more land than they need," Jones said. "Their ,teed 10 to I acres." Fry's executives couldn't be reached to comment. Fn's stores average 144.000 square feet and are known not just for selling computers, stereos and other electronics but also for pro- viding wall after wall of components for those items. "Their primary customer is scien- tific and technical, even though they've also got broad appeal to everyone, Jones said. Fn's is con- sidered a "destination retailer" that doesn't have to rely on being near large shopping areas to attract cus- romers- he said- Frv's would have liked to be fur- ther -up 1-405 in the heart of the East - side, Jones said, but Lot 6 is close enough and more than big enough. "It's an excellent way to serve the Eastside for a retailer that needs a substantial amount of space.- Jones said. The same dynamics would come into play ifFry's sought a retail buy- er or tenant for the other half of Lot 6 — which puts Costco into mind. "It doesn't have to be a Fry's-type retailer. but another tenant that does- n't require the synergism of a lot of other retail." Jones said. "A bulk retailer, for example." Costco, the Issaquah -based bulk retailer, has looked at various sizes in Rentor. in the past couple of years. However, Frv's could look at the property as an office site. As office rent- have soared in downtown Seattle and throughout the Eastside, developers have turned to farther -out locations like Renton to build once space for tenants seek- ing lower rents. So far at least, four large office projects are undergoing planning and permitting in Renton. Putting office space on Lot 6 would include getting the city to rezone the property, now designated for indusrnal use. Renton allows cer- tain types of retail development on industrial property on the notion -!tat Spokane garage back in court By HUNTER T. GEORGE has struggled to pay bills since it Lewis said. Associated Press Writer opened in August 1999. The devel- In addition, Miggins and Sloane oper asked the city to make good on cannot be ordered to "loan" p., . OLYMPIA — Spokane officials its promise by lending about money that the recipient car., on Wednesday asked the state $450.000 front a^ account funded by repay, which makes it an illegal ea` Supreme Court to block an order t� the city's parking -meters, a--ording or donation. Lewis said. _. _. __ .. �_ ._ __ ___._ . _, .• ,... m :rot.* recnrd� The developer. an affiliate pf the NORTH u z s m LOT 3 LOT 6. t large retail spaces easilconvert to industrial use and vice', ersa, said Sue Carlson, Renton's economic development director. In an interview last August, Carl- son said office developers hadn't shown much interest in Lot 6 because "office tends to go where office already is." Fry's hasn't designed is store for Lot 6 or submitted plans to the city. Joe A'abbefeld can be reached at 1206) 219-6518 or br a -mall of j,--dic. corn. .way iacriiRy, vvrtn each direction at a lion to S35 millior would be retain.,, roadwav but alloy. shoulders of the gee ,ions of the bridge period at a cost of S million. Cascade Bicvel, Rebecca Slivka at-, called-R-S' optio "more dangerous t chsts and_ would increase in motori- tCacon Pat � i c c INC_ Bankntptieles Building Permits Business/Finance Business Leads Classified Construe• Contraet_L;wde Courts Records Public Notice Sect Real Estate Real Estate R.econ PLYWOOD SUF DISTRIBI TES