By Ioana Neamt, Associate Editor
Comprising 355,200 square feet of Class A industrial space, the project’s second phase will be located right next to the 491,000-square-foot Phase I building, which was completed in November 2014. The massive development is strategically located near the Portland International Airport and the 800,000-square-foot Cascade Station retail center, and also offers easy access to Interstate 205.
“We are pleased to embark on a second quality industrial project with Capstone Partners in the Portland region,” Erik Flynn, managing director with PCCP, said in a statement. “The firm has a history of successful development in the Pacific Northwest, and PDX Logistics Center II will deliver a highly institutional project in an irreplaceable logistics-oriented location.”
Upon completion, PDX Logistics Center II will be a 32-foot clear height, cross-docked building that will allow for either an exclusive user or a multi-tenant situation. The $24.5 million, 17-acre development will follow in the footsteps of Phase I, which is currently 100 percent leased to three tenants: Gateway Express, Ernst Packaging and KeHe Distributors.
Image courtesy of Capstone Partners