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Port of Bremerton approves three Steelhead Group Holdings lease actions, adds 1‑acre lease for washdown and paint booth
Summary
The commission approved two lease amendments and a new 1‑acre lease for Steelhead Group Holdings, owner of the building being constructed for Inventech Marine. Leases are 50 years with three 10‑year options; first 10 years have no CPI increases and a catch‑up CPI adjustment is applied at the 10‑year anniversary for the prior five years.
The Port of Bremerton Commission approved three lease actions for Steelhead Group Holdings, advancing site development tied to a 60,000‑square‑foot building being developed for Inventech Marine.
Port staff described the package as two lease amendments and a new one‑acre lease. The amendments establish a lease commencement date of June 1, 2025, for an existing 4.41‑acre parcel and for a 1.39‑acre parcel (the former P‑patch). The newly approved 1‑acre lease is for undeveloped land immediately adjacent to existing facilities; port staff said Steelhead plans to add a washdown station and a paint booth on that parcel.
Terms and fiscal details: staff said all leases are 50‑year terms with three 10‑year renewal options. The port described a negotiated rent structure in…
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