A lease for a proposed cold storage and processing space has been approved by the Port of Tacoma Commission.
A lease has been granted to Saxum Investment Company for a site spanning 30 acres in the port. The cost of the project is expected to be $250 million and will create 400 jobs.
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The facility is being built for Fathom Seafoods and will be 550,000 square feet in size. It will include a range of cold storage and seafood processing services. The new facility will be built on a brownfield site and will convert blighted land into a source of economic development for the area.
Cody Mills, CEO of Fathom Seafoods, said a round of funding will help the company to build the facility. Multiple offers from companies looking for a partner on the operating side have been received by Fathom Seafoods and the company is evaluating these to ensure the ideal partner is selected once the facility is up and running.
The developer of the project is Saxum. Matthew Wassel, Real Estate Principal for Saxum, expressed his gratitude for the port’s trust in his company and that it is confident that it will be able to create a quality asset in the area. The facility will be built over a period of two years.
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