Monolithic Power Systems has purchased a ground lease at King County International Airport-Boeing Field in Seattle for $18.3 million.
The Kirkland-based semiconductor supplier bought the lease that includes two hangars at the airport at 7277 Perimeter Road South, four miles south of Downtown, the Puget Sound Business Journal reported, citing a public property deed.
The seller was an unidentified firm run by Seattle businessmen Dan Baty and his son, Stan Baty. Specific terms of the lease were not disclosed.
Monolithic, which makes power electronics for the cloud computing, telecom and automotive industries, is the latest firm to land at the commercial airport, where private airline service companies have invested hundreds of millions of dollars, according to the newspaper. It is about 10 miles north of Seattle-Tacoma International Airport, or Sea-Tac, the metro market’s passenger airport.
The global company has more than 3,200 employees and was among the state’s largest publicly traded companies in 2022 with revenue of $437.7 million, according to Business Journal research.
Dan Baty co-founded Seattle-based Columbia Pacific Advisors, which manages alternative real estate investments. He founded Emeritus, among the largest operators of assisted living communities in the U.S, which in 2014 merged with Brookdale Senior Living.
His son Stan Baty is a managing partner of Columbia Pacific Advisors, which he co-founded, and vice president of Columbia Pacific Management.
— Dana Bartholomew
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