Wood Products Firm Leases 130,000 SF

RIDGEFIELD, WA-Clearwood Processing LLC is the newest tenant in LakeRiver Industrial Park, a 15-building, 250,000 sf development owned and operated by the Port of Ridgefield. The newly formed custom dryer and remanufacture of wood products, a sister company of Tigard, OR-based HCMA Consulting, is taking 130,000-sf of space in the park that had been vacant for six months.

The cost and term of the lease was not immediately available, but it was well below market rents in the area, says Colliers International’s Scott Fraser, who brokered the deal. Newer space in the area goes for between $0.35/sf NNN and $0.40/sf NNN, says Fraser, and at 40-years-old and counting, LakeRiver Industrial Park would come in well under market. “The Port of Ridgefield is excited to have this leased,” said Fraser.

One of Clearwood Processing’s neighbors in the park will be Tualatin Valley Builders Supply, which moved its wall panel system plant from a property near the Portland International Airport about a year ago. They lease only 25,000-sf of industrial building space, but use a significant portion of “the yard,” said Fraser.