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December 18, 2018
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PACIFIC NORTHWEST NEWS
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Food Distributor Buys 12.6-Acre OR Dev Site from Panattoni Development

1/02/18

An unnamed local food distributor purchased a12.6-acre industrial site within Portland Portal Distribution Center in Gresham, OR. The price was not disclosed.

The site, located at NE 172nd and Sandy Blvd, was sold by Panattoni Development. The property offers immediate access to I-84 along with the benefits of being in Gresham, such as Enterprise Zone and E-commerce Zone tax incentives. Other benefits of the site included visibility from I-84 and strong corporate identity.

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. Preliminary plans are to construct an approximately 135k sf food distribution center on the site with delivery expected to be early fall of next year.

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





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