Port Madison Enterprises further diversifies holdings
June 10, 2008 · Updated 4:56 PM
SUQUAMISH In an effort to strengthen its financial status within the community, the Suquamish-based Port Madison Enterprises completed the process to acquire the Agate Pass Business Park Aug. 1. The company is not the only one pleased with the transaction, many of the tenants of the split-level park are feeling positive about the change as well.
Well, so far so good, said Magraw Zecha owner Scott Magraw. His business specializes in cabinetry and woodworking. As soon as they took over, they had a bunch of gardeners out here cleaning things up a bit. Im expecting great things, and I like (PME Chief Financial Officer Jim Snead) quite a bit.
Snead said the approximately six-acre park will diversify PMEs holdings. PME also owns the Clearwater Casino and Resort, the Angeline Spa, the Longhouse Texaco and is connected with the Suquamish Tribes economic development.
The project is completely different from our main businesses, Snead said. Were working on tying everything together here. The business park has several plats that are ready to build, and well be adding buildings in the future.
The park is tiered, with the more customer-friendly businesses visible from the State Route 305 and the industrial-oriented firms further down the slope. Snead said PME hasnt thought about what kinds of businesses will occupy the new buildings once they are constructed, and the structures will be built to house any number of companies.
Not at this juncture, we have not met with the PME representative, said Grounds for Change owner Kelsey Marshell about whether he has specific things hed like to see PME do with the property. As far as a wish list, we dont have one. We have the sense they will be making improvements.
Snead said the improvements planned for now are the new structures, plus some regular maintenance and a new sign. By purchasing the business park, the company will assist in sustaining long-term growth within the Port Madison Reservation.
All the businesses there will continue to lease from us, said PME media coordinator April Leigh. It promotes small businesses on the reservation, and thats something we are definitely interested in doing.
Magraw said he has employees with spouses and family who work for the Suquamish Tribe, and knows it makes an effort to take care of its workers and tenants. He feels the same will hold true for PME as well as the company working to make the Agate Pass business park as successful as possible.
I think theyre going to make more of an effort to take care of and make the park look really nice, he said. Were doing the millwork for the new museum, so were already seeing the symbiotic relationship.