A groundbreaking ceremony is set for the first phase of the 87-acre Des Moines Creek Business Park.

The event will be held at 2 p.m. Thursday at the northwest corner of 24th Avenue South and South 216th Street.

The property is owned by the Port of Seattle. The developer, Panattoni Development Co., has a long-term lease.

The business park will include 1.6 million square feet of manufacturing, office, distribution and industrial buildings for tenants that want to be near Sea-Tac Airport.

CollinsWoerman is the architect. Barghausen Consulting Engineers is civil engineer and Fehr and Peers Transportation Consultants is doing traffic and transportation planning.

Kidder Mathews brokers Chris Corr, Thad Mallory and Travis Stanaway are marketing the project.

Three buildings totaling 535,000 square feet are planned for the first phase, which will involve 35 acres of the site.

Panattoni said last year that it expects to spend up to $125 million over seven years to complete development.

The project is part of a port plan to triple the volume of air cargo at Sea-Tac and expand opportunities for local businesses.