The term of the lease is 10 years, with 3% annual rent increases. Cushman & Wakefield brokers handled both sides of the transaction, with Andrew Harnish representing Pentagon and Tony Reser and Ben Peterson representing James property Investments. The building will be Pentagon's fifth such facility nationally, and will serve chipmakers in the greater Pacific Northwest and Rocky Mountain regions, including local producers LSI Logic, Hewlett-Packard and Fujitsu.
The early development schedule has the facility fully operational during May of 2001. It will provide "end-to-end" parts cleaning and re-conditioning services, utilizing defect reduction technologies perfected by Chemetal Inc., Thermal Coatings Inc. and Support Systems Inc., all acquired by Pentagon during 1999 - 2000. Pentagon itself was a wholly owned by publicly-traded MPW Industrial Services Group Inc. until July of this year, when MPW sold a 77.7% interest to Baird Capital Partners of Chicago.
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