Trammell Crow JV Starts Northwest’s Biggest Spec Project

August 18, 2023

Development Industrial News PortlandMoreWest

Completion of this 1.2 million-square-foot distribution center is scheduled for late next year.

This will be the largest speculative industrial facility in the Pacific Northwest region. Image courtesy of Trammell Crow Co.

Trammell Crow Co., together with joint venture partner Diamond Realty Investments, has started construction on a 1.2 million-square-foot industrial project in Kelso, Wash. The development is slated to become the largest speculative industrial property in the Pacific Northwest region, with delivery scheduled for late 2024. Sumitomo Mitsui Trust Bank provided $86.1 million in construction financing, Cowlitz County public records show.

The development team also includes HPA Architecture as architect and Sierra Construction as general contractor. CBRE has been appointed as exclusive leasing agent for the property.

Plans call for a single-story facility that will include 40-foot clear heights, 219 dock door positions, 351 trailer parking spots and 514 vehicle parking spots. An adjacent site will allow for a possible building expansion, an additional yard or more parking spots. The project was designed to accommodate a wide range of users, TCC Principal Kirk Olsen noted in prepared remarks. CBRE Senior Vice President Cara Noland and Executive Vice President Andrew Stark are the appointed leasing brokers.

The property is taking shape on 82 acres at 2700 Talley Way, close to U.S. Highway 432 and Interstate 5. The industrial building will be 36 miles from Vancouver, Wash., and 45 miles from Portland, Ore.

More in the pipeline

TCC currently has $13.4 billion worth of projects in various stages of construction in its pipeline. In March, the company, together with partner Washington Capital Management, completed the second phase of a 1.5 million-square-foot Inland Empire project.

That same month, the developer wrapped up 104th Commerce Park‘s first phase, delivering 571,000 square feet of industrial space in metro Denver. The 89.6-acre campus will encompass 1.2 million square feet at full build-out.