One Of Portlands Largest Real Estate Projects To Nearly Double In Size

Dated: October 20 2015

Views: 623

Fresh off a huge lease that ate up 383,000 square feet of brand new industrial space, the partners behind the PDX Logistics Center have officially launched a huge second phase of the project.

PCCP LLC and Capstone Partners LLC are developing the $24.5 million PDX Logistics Center II, a class A, 355,200-square-foot industrial building near thePortland International Airport. The 17-acre site sits next to Phase 1 of the development, which is a two-building, 491,200-square-foot project. The first phase of the development has been 100 percent leased to three tenants: Gateway Express, Ernst Packaging and KeHe Distributors.

Phase II of PDX Logistics Center (the building on the right in this rendering) will offer more than 355,000 square feet of industrial space near the Portland International Airport. The first phase of the project, the two buildings on the left, are 100 percent leased.Enlarge

Phase II of PDX Logistics Center (the building on the right in this rendering) will offer… more

According to a release from PCCP and Capstone, PDX Logistics Phase II will be a 32-foot clear height, cross-docked building that will allow for either a full building user or a multi-tenant situation. The site is less than a mile from the air cargo entrance at the airport and about three miles from Interstate 205. The project broke ground recently and should be completed in 2016.

“We are pleased to embark on a second quality industrial project with Capstone Partners in the Portland region," said Erik Flynn, managing director with PCCP. "PDX Logistics Center II will deliver a highly institutional project in an irreplaceable logistics-oriented location.”

According to the release, the Portland industrial market has seen a decrease in vacancy from 5.7 percent in the second quarter of 2014 to 4.8 percent in the second quarter of 2015. During the same timeframe, rents have increased more than 9 percent.


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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

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