Travis Industries Inc. Leases 476,000 SF From The Boeing Company

Largest privately held Hearth product manufacturer in North America relocates manufacturing facility to Mukilteo, Wash.

Mukilteo, Wash. (PRWEB) June 14, 2003 -- Travis Industries Inc., the largest privately held manufacturer of fireplace and hearth product appliances in North America, announced today the lease of Centre 41, a 476,000 SF industrial manufacturing facility at Harbour Pointe, from The Boeing Company (NYSE: BA).

Centre 41, which we are renaming Travis Industries House of Fire, is an excellent manufacturing and distribution facility in an outstanding location at a good value," said Kurt W.F. Rumens, president and general manager of Travis Industries. We appreciate Boeing Realty Corps working with us to modify the building to fit our needs."

For the last 24 years, Travis Industries has operated its hearth product manufacturing business from five separate facilities in Kirkland and Woodinville, WA. The move to Mukilteo allows Travis to consolidate its manufacturing, research and development, marketing and administrative operations into a single location.

The shift to Snohomish County also positions the company to double its size from $70 to $150 million in revenue and employee base from 400 to 800 within the next five years.

We are pleased that Travis Industries chose to consolidate and relocate all of its operations to our site," said Colette Temmink, vice president of Boeing Realty Corp. This transaction not only shows the benefits of locating at Harbour Pointe, but it also indicates the attractiveness of Snohomish County as a business center."

We looked at a number of possible new homes including some very attractive facilities outside the state of Washington," noted Rumens. In the end, with a personal appeal from Governor Locke, and assistance of our broker Chris Langer from the Broderick Group, Heather McCartney from City of Mukilteo, and tenacity from Boeing Realty Corp., we chose to remain in the State and grow our business right here in Snohomish County."
   
This transaction illustrates The Boeing Companys commitment to transitioning surplus real estate in ways that create new value for employees, communities and shareholders," said Temmink.
   
The 12-year lease is valued at $19.2 million.

Chris Langer and Paul Jerue of the Broderick Group represented Travis Industries and Richard Peterson and Darrell Okada of Puget Sound Properties represented Boeing.

The building is located at 4800 Harbour Pointe Boulevard in Mukilteo, Wash.

About Travis Industries
Travis Industries is a premier manufacturer of hearth products, including stoves, fireplace inserts and fireplaces that burn gas, wood and wood pellets. Travis is the largest privately owned hearth products manufacturer in North America. The firm has been in business since 1979. In 2002, sales topped $70 million.

Travis Industries markets its products nationally under three brands, each available exclusively from a network of more than 1,200 specialty hearth retailers. They include Lopiä, Avalonä and Fireplace Xtrordinairä.

Travis Industries Owner and CEO is Travis Garske. Kurt Rumens is president and general manager. Travis industries current location is 10850 117th Place N.E., Kirkland, WA 98033. The can be contacted by calling (425) 827-9505, or Fax: (425) 827-9363. For more information, visit www.hearth.com/travis.

About Boeing Realty Corp.
Boeing Realty Corp., a wholly owned subsidiary of The Boeing Company (NYSE: BA), directs all real estate strategies, acquisitions and dispositions, development and leasing worldwide for The Boeing Company. For more information, please visit www.boeing.com/special/realty.

###