The Boeing Company has sold its Overmeyer property in Renton, Wash., to the Merlino Construction Company, Inc. Located adjacent to the Boeing assembly plant for 737 and 757 jetliners, the property consists of 9.3 acres and includes five industrial buildings totaling 208,000 square feet.
The property, situated on the west side of Houser Way North between North Eighth Street and Park Avenue North, currently houses a Boeing copy center among other support groups. Boeing will lease three of the buildings on a month-to-month basis until all employees have relocated. A sale price was not disclosed.
"Boeing is continuing to reduce its surplus real estate as one way to be more cost competitive and to create more value for shareholders," said Phil Cyburt, president of Boeing Realty. "Improvements in the manufacturing processes and changes in our business alignment mean our Renton site no longer requires the Overmeyer property. We were glad to accommodate Merlino Construction in their venture."
Stoneway Concrete, Inc., a division of Gary Merlino Construction Co., will build an environmentally state-of-the-art concrete production plant at the site. "We're very excited about this opportunity to build a facility that addresses environmental necessities now and in the future," said Michael Merlino, operations manager. "Moving our ready-mix operation to the Overmeyer property will also strategically locate us to help alleviate traffic on the Maple Valley Highway."