EVERETT — The Port of Everett has finalized its purchase of the former site of Kimberly-Clark’s waterfront mill, representatives from commercial real estate firm Kidder Mathews announced Friday.
Port commissioners approved the $33 million purchase Oct. 22, expecting to take possession by December. They had voted to condemn the 58-acre property earlier this year.
Kimberly-Clark had been marketing the property since closing the mill in 2012.
Kidder Mathews commercial real estate brokers, Dave Speers and Matt Henn, along with Eric Dienstbach of Binswanger, represented Kimberly-Clark in the transaction.
The site includes a 360,000 square-foot warehouse and has more than 2,500 lineal feet of waterfront on the East Waterway, the Kidder Mathews release reported. The sale property is located between the Port of Everett terminal and Naval Station Everett, a federally secure maritime complex and major Snohomish County employer, with 2,900 employees.
The purchase price includes a $17 million credit to the port for cleanup of the East Waterway that borders the mill property shoreline.
A separate cleanup process is scheduled to start next year on the land.
The port expects to develop three-quarters of the former mill site for maritime use, and to use the rest for aquatic management and public access.
Port CEO Lisa Lefeber said the acquisition would expand their international seaport, bring back family-wage jobs and “support maritime job growth for decades to come.”