07
Jul2014
Capacity Commercial Group/CORFAC International Lands Biggest Industrial Spec Project in Portland
Portland, OR (July 7, 2014) – Capacity Commercial Group/CORFAC International, a leading full-service commercial real estate provider serving the Portland metropolitan market, today announced that the firm has brokered the sale of approximately 28 acres of pre-approved development land for a little more than $7 million and concurrently landed the marketing assignment to lease a new, state-of-the-art 492,000-square-foot distribution center to be built on the same land.
Specht Development acquired the property from Three Oaks Development and began preparing the site for construction last week. This is the largest speculative industrial project currently under construction in the Portland marketplace.
Don Ossey, SIOR, and Rob McEachern with Capacity Commercial Group/CORFAC International were the only brokers involved in the land sale. Along with Dave Ellis from Capacity Commercial Group, they have been retained by Specht Development to lease Interstate Crossroads Distribution Center, which is designed as hi-cube distribution or manufacturing space with office areas to support industrial use.
The property, located at NE 166th Avenue and NE Cameron Boulevard in Portland, is approximately 13 miles east of Downtown Portland. The sale price was $5.75 per square foot for a state-certified, shovel-ready land site. Building features will include:- 32’ Clear Height
- 104 Dock Doors
- 9 Grade-Level Doors
- 50’ x 52’ Column Spacing (more at Loading Bays)
- ESFR Sprinkler
- 4,000 Amps of 480 Volt 3-phase Electrical
- Gated truck staging and trailer storage areas
Shell construction is expected to be completed by late Spring 2015.
About CORFAC InternationalCORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC International is celebrating its 25th anniversary in 2014. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 60 countries worldwide. In recent years, CORFAC firms have averaged over 10,000 completed transactions annually totaling more than 397 million square feet worth of space and in excess of $7.1 billion. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.
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