By BRIAN MILLER
Journal Staff Reporter
An industrial property at 65 S. Horton St. is on the market, and prospective buyer Ryan Cos. has filed plans to redevelop it.
Now leased by PSF Industries, the 1.1-acre property last traded for $1.1 million in 1999. It's owned by a private investor in Eastern Washington.
James Kidder and Ted McCaffray of Kidder Mathews have listed the property for about a year, and it is now priced at $6.1 million.
The property is also bounded by South Hinds Street and Colorado Avenue South, and occupies most of the block. It's just west of First Avenue South, and a little north of the West Seattle Bridge.
Four warehouse/office buildings with about 54,700 square feet are there today. The oldest buildings date to 1917; they were renovated in 2010, according to KM.
Ryan's plan is to demolish them and construct a new four-story industrial building with 119,000 square feet, and surface parking with 85 stalls.
The initial plan was prepared by Craft Architects.
Ryan is currently working on Kirkland Urban and recently completed the second phase of Kaiser Permanente's campus in Burien, near the Longacres horse track. The company offers a range of real estate services, from construction to design, engineering, development and property management.
PSF Industries is a separate company from PSF Mechanical, which recently relocated its 350 employees from South Park to Tukwila. The companies split in 1991.
PSF Industries makes, erects and maintains custom pressure vessels, heat exchangers, stacks, spheres, tanks and more. It hasn't announced any relocation plans. It also has facilities in Utah and North Carolina.
The PSF source company was launched in 1888 to make stoves, gold mining pans and ranges for miners departing Seattle for the Yukon gold fields. It was called Puget Sound Sheet Metal Works in its early history.