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Port buys Arkema property

Post by Kelly Kearsley on May 30, 2007 at 11:35 am with No Comments »
May 30, 2007 11:35 am

At yesterday’s Port of Tacoma commission meeting, port staff announced they’d finally reached an agreement with Arkema to buy the chemical company’s property on Taylor Way.


The news was overshadowed by the eminent domain action, so I thought I’d provide a few more details here.


The port has been trying to obtain the 67 acres owned by Arkema for the past few years. Saying that the negotiations were taking too long, the port filed a condemnation action against the company last December.


The property – at 2901 Taylor Way – once housed a caustic soda and liquid chlorine plant. The business opened in 1929 and operated under the name Pennwalt for much of its life.


The property hasn’t been used for years.



Yesterday Derrick Urquhart, the port’s industrial real estate manager, told the commission that he’d reached a deal with Arkema to buy the land for $22,690,00.


The sale is set to close tomorrow.


The port wants the property as part of its plan to develop the east Blair Waterway into container terminals. Given the property’s location, it will likely be used for roads and rail lines to support the new terminals.


On a related note, the announcement of the Arkema deal – a condemnation threat that ended in negotiated agreement – was certainly well timed.


As the next agenda item, the commission then proceeded to approve the use of the port’s condemnation powers to acquire another 140 acres of property on the Blair.


Commission president Connie Bacon noted that the use of eminent domain was a last resort, to be used only if negotiations don’t come through.

Categories:
Port and Trade
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