Mortenson Development Selected to Acquire and Develop Site in Kent for Future Naden Avenue Manufacturing Campus

Mortenson Development, Inc. (MDI) announced it has been selected to acquire and develop a 9.3 acre infill site in Kent, Washington, for the future Naden Avenue Manufacturing Campus, a modern, build-tosuit campus designed to support the region's burgeoning specialized manufacturing economy.

Located in the Kent Valley, the campus is positioned to leverage one of the strongest industrial and manufacturing workforces in the Pacific Northwest, with access to a skilled labor pool and a dynamic ecosystem of aerospace, defense and emerging space companies. The Naden Avenue Property benefits from robust power infrastructure, including proximity to an existing and recently upgraded Puget Sound Energy substation capable of serving powerintensive manufacturing users.

The development is a public–private partnership between MDI and the City of Kent, aligning longterm interests to bring new capital investment, highquality jobs and nextgeneration manufacturing space to the Kent Valley.

"We recognize the importance of the Naden Avenue Manufacturing Campus to Kent—not only as a catalyst for economic development, but as a symbol of what's possible when the public and private sector works together with shared vision," said Jon Hines, real estate development executive with MDI. "We see this as an opportunity to create a distinctive redevelopment that attracts innovative companies with specialized manufacturing needs, generating quality jobs and long-term economic value to the community."

MDI is partnering with Kidder Mathews to market the property to interested build-to-suit users. The City Council's recent approval of the Purchase and Sale Agreement was an important milestone which now allows the development team to launch its marketing and outreach efforts.

"Our team is privileged to be a part of the development team that will bring innovative companies and long-term impact to the City of Kent," said Matt Murray, SIOR, Executive Vice President at Kidder Mathews. "We're excited to get started and look forward to hearing from the local market and beyond."

The Naden Avenue Manufacturing Campus can accommodate a range of customized modern manufacturing and industrial requirements. With MDI's national buildtosuit platform, development track record and experience delivering complex manufacturing facilities across the U.S., the team will work closely with its leasing team and prospective tenants to align program, design, infrastructure and operations with their business needs.

MDI and its partners will continue advancing important predevelopment and planning workstreams for the campus in the months ahead. Construction is anticipated to begin following completion of design, entitlements and permitting, subject to market demand and tenant commitments.

Inquiries and interest in the Kent Naden Avenue Manufacturing Campus Development can be directed to Matt Murray, Executive Vice President, Kidder Mathews: matt.murray@kidder.com.

About Mortenson and Mortenson Development

Mortenson is a U.S.-based, top 25 developer, builder, and engineering services provider serving the commercial, institutional, and energy sectors. Through a growing portfolio of integrated services, including design, construction, development, and real estate investment, Mortenson helps customers turn strategies into high-performing assets. Mortenson Development (MDI) is the real estate development arm of Mortenson. Drawing on a national build-to-suit platform and deep expertise in complex projects, MDI partners with public and private stakeholders to deliver thoughtful, long-term real estate solutions that align with each partner's goals & objectives. For more information, visit www.mortenson.com.

About Kidder Mathews

Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 54 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit www.kidder.com.

Media Contacts:

Richard Kendall
Kendall Consulting Group, for Mortenson
richard@kendallconsultinggroup.com

Meili Cady
Marketing Communications Manager, Kidder Mathews
Meili.cady@kidder.com