Friday, June 23, 2017

Port of Portland Development

By Karen Robes Meeks

On June 14, the Port of Portland Commission approved the sale of 19 acres of Troutdale Reynolds Industrial Park (TRIP) to the Clayco real estate development, one of the nation’s largest real estate developers whose clients include Pfizer, Coleman, Amazon and Walgreens.

Clayco’s preliminary site concept features a 344,000-square-foot facility that can accommodate up to four industrial users for manufacturing, distribution and offices, according to the port.

The sale is the latest in the revitalization of TRIP, a 700-acre brownfield redevelopment. Earlier this year, the port approved the sale of 74 acres for an Amazon fulfillment center, bringing 1,500 jobs.

“This investment is another example of TRIP’s evolution from a brownfield site into a thriving job center,” said Keith Leavitt, port chief commercial officer. “We expect this development to follow suit in attracting nationally known companies that will bring quality jobs to our region.”

Once home to the Reynolds Metals Co. aluminum plant, the industrial park had been declared a Superfund site in 1994 and remained inactive. When the Port purchased the property in 2007, it was annexed into the city of Troutdale and cleaned up by Alcoa. So far, the port and stakeholders have spent more than $130 million to buy and redevelop the site, including a 90-acre wetland mitigation area, according to the port.

“Within the dynamic Pacific Northwest market, the TRIP development is a premier site that enhances our industrial portfolio,” Clayco Western Region Vice President John Banchero said.

“We see significant opportunity in the site with close proximity to the FedEx Ground hub, the Amazon fulfillment center, I-84 and the Troutdale Airport. When completed, the state-of-the-art facility and its location are guaranteed to attract today’s top modern industrial, logistics and fulfillment users.”