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January 17, 2018
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Food Distributor Buys 12.6-Acre Portland Site for New Build-to-Suit Facility

12/13/17

A local food distributor has purchased a 12.6-acre industrial site from Panattoni Development at Panattoni’s Portland Portal Distribution Center location in Gresham, OR. The buyer plans to construct a 135k sf food distribution center on the site, with completion estimated for early fall of next year.

This is the third major build-to-suit project in the NE submarket in the past 24 months. Build-to-suit activity remains active in spite of a notable downturn in leasing demand for speculative large warehouse space. The fact that Panatonni was willing to sell the site under a fee development arrangement, made the site attractive to the buyer.

Located at NE 172nd and Sandy Boulevard, Portland Portal Distribution Center provides immediate access to I-84 along with the benefits of being in Gresham. This includes Enterprise Zone and E-commerce Zone tax incentives. Other benefits of the site included visibility from I-84 and strong corporate identity.

Andy Kangas with CBRE represented Panattoni. The buyer was repped by Rod Brokenshire and Stu Peterson.

Panattoni is a privately held commercial real estate developer, specializing in industrial, office and build-to-suit projects. This was their second notable transaction in the NE submarket of Portland in the last 24 months. They also developed Big Eddy Distribution Center at NE Riverside Pkwy, a 153k sf speculative industrial project that was recently 80% leased to Anixter, a global distributor of networking and security solutions.




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