The estimated $90-million development is called the Des MoinesCreek Business Park. It lies within the City of Des Moines. Theundeveloped site is bound by South 208th Street on the north, 24thAvenue South on the east, South 216th Street on the south, and onthe west by a portion of Des Moines Creek Park.

The Port of Seattle will be entering into exclusive negotiationsfor a long-term ground lease with City of Industry, CA-basedMajestic that will require the approval of the Port of SeattleCommission. The Port's media officer Perry Cooper declined todisclose verbally the rent Majestic has proposed to pay andMajestic could not immediately be reached for comment.

A ground-breaking for the project is expected to occur in summer2009. The build-out of the project is expected to occur in threephases over five years. As part of the agreement, Majestic will usethe US Green Building Council's LEED rating system as a basis fordesigning the entire project, and will incorporate into the projectnine acres of wetlands.