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June 22, 2024
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Principal Real Estate Investors Buys 195k sf OR Industrial Facility


Principal Real Estate Investors has acquired a just-completed, 195.5k sf industrial building in Hillsboro, OR. The facility was developed by Trammell Crow Company (TCC) and is fully leased to Hitachi High-Tech America Inc. The firm is an affiliate company that operates within the Hitachi Group Companies to sell and service semiconductor manufacturing equipment, analytical instrumentation, scientific instruments, and bio-related products, as well as industrial equipment, electronic devices, and electronic and industrial materials.

Located at 3600 NE Huffman St, the 18-acre site offers additional land that can accommodate an expansion of 100k sf to 130k sf. The property is situated within the Hillsboro Technology Park district, a subset of the North Hillsboro Industrial Renewal Area, which includes 700 acres of vacant land that is zoned or otherwise designated for industrial development.

Targeted uses identified for this area include high tech, clean tech, and advanced manufacturing, with a focus on companies with large lot (50 acres or more) requirements. The site is located approximately 16 miles west of Downtown Portland.

The facility is identified as the Hitachi Center of Excellence in Portland (CEP) and is focused on semiconductor engineering. The tenant program included unique specifications implemented in the design and construction process to meet the specialized requirements of the facility. HTA plans to be fully operational at the new facility in 2023.

“The HTA facility was designed to IBC Risk Category IV, which is used in buildings that are considered essential to the operator’s needs and who want limited down time after a code-level event, such as an earthquake – this was a fundamental requirement of the tenant program and driven by their focus on customer service,” said Steve Sieber, a principal with TCC’s Portland team.

Paige Morgan, Charles Safley, Tom Pehl, Lou Senini and Chais Lowell of CBRE represented TCC in the sale of the asset. In its lease, HTA was represented by Kristin Hammond and David Saad of CBRE.

Mildren Design Group served as the project’s architect, and Perlo Construction was the General Contractor. David Etchart of CBRE Project Management led the tenant project management team, and Lauren Peng of CBRE Property Management acted as the property manager on behalf of the landlord.

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