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Real Estate FAQs
The Port has property in three main areas. The Airport properties, including New Market Industrial Campus and Cleanwater Center, is located in Tumwater. The Commerce Business Center, a three-building campus, is located in Lacey. The Port Peninsula is located in downtown Olympia and includes the Market, East Bay and NorthPoint districts.
Port determines rent based on market rates (land, office, retail/commercial).
For land leases the terms is between 30-50 yrs with additional options as allowed by the State; for other types (office, commercial, retail, flex space) leases are considered short term leases and are negotiated.
Developers follow development guidelines and building codes from the various cities where the Port holds property.
Development guidelines and building codes from the various cities where the Port owns property are to be followed, including environmental regulations. However, the Port is working with City of Tumwater and the Washington State Department of Fish and Wild Life on a mitigation plan for property in Tumwater.
Yes, but they generally follow the city codes where the property may be developed; however, some of the Port’s lands are within boundaries regulated by the Federal Aviation Administration (FAA) and some specific restrictions and/or guidelines are observed.
Yes. Please see the Port Plaza page for more information.