Commercial real estate development and property management company Segale Properties is marketing 250 acres of pad-ready properties to developers and companies. It also is nearing completion of its first deal with Ryan Companies U.S. for a 38-acre technology park.
“Our family has spent the past 70 years assembling land, and the past two decades planning, gaining entitlements, and constructing core infrastructure for The Prato District. Our family’s vision will create an exciting new live-work-play environment bringing high-quality development, open space, and economic vitality to the Tukwila area. We could not be more pleased to have Ryan Companies as our first builder,” said Mark Segale, president at Segale Properties, in a prepared statement.
The Prato District’s 320-plus acres include 250 acres of shovel-ready property that benefits from a zoning overlay that allows for a mix of complementary uses, including multifamily, office, flex-tech, retail, and light manufacturing, to name a few. The Prato District has completed all key entitlements and core infrastructure improvements making it immediately ready to support up to 10.3 million square feet of new commercial and residential development.
The Prato District, formerly known as Tukwila South, also offers a host of amenities. It includes views of Mount Rainier and the Green River, 18-plus acres of future parks and maintained walking trails, and 71 acres of conserved open space. The property is within walking distance to retail, restaurants, lifestyle services, and the Southcenter Westfield Mall. The common recreation space Segale plans to provide through build-out of The Prato District — along with the City of Tukwila’s completion of the Green River trail — will provide significant recreation space and amenity areas for future tenants, employees, and residents.