Construction of the first phase, a two-building,
491,200-square-foot project, is expected to begin in August, with completion expected
in early Fall 2014. The PDX Logistics Center site is located adjacent to
Portland International Airport.
The project is expected to provide tenants with immediate
access to the 205 freeway and close proximity to airport freight and
transportation services. Construction is being handled by real estate
development company Capstone Partners and finance and investment firm PCCP.
“There is currently a shortage of large Class A logistics
space over 250,000 square feet in the Portland Metro market,” Capstone Partners Principal
Chris Nelson said. “PDX Logistics Center is well positioned to provide new
supply of modern industrial park space to meet the increasing needs of new and
expanding traded sector firms seeking industrial space.”
The 26-acre property is being leased from the Port of
Portland on a long term, 50–year, pre-paid ground lease.
“Attracting new employers to create local jobs and increase
our tax base first requires a place for them to locate and grow,” Port of
Portland Executive Director Bill Wyatt said. “This lease and the forthcoming
development at Portland International Center will be a significant bellwether
for economic development and prosperity in this region.”
