Wells tells GlobeSt the property, across Highway 99 from Costco at 11765 Pacific Highway S., "can easily carry 140,000- to 150,000-sf of office space," mostly likely in a three-story structure. The deal is contingent, of course, upon site plan approval and a building permit, but Wells anticipates starting construction in June or July if everything goes smoothly, and completing the project sometime next spring. A pre-application meeting with the City of Tigard is imminent.

The property, which one local broker describes as "an absolute 100% location," currently holds a vacant training center formerly used by General Motors. The property owner is Stephen Barasch. Barasch acquired the site in 1994 for $224,000, according to Oregon Title Insurance Co. Wells wouldn't say how much they are considering paying for the site, but Oregon Title records have the land alone valued at $2.67 million, and the structure valued at close to $1.4 million.

The structure would be demolished to make way for the office building, which is being designed by Ankrom Moisan Associated Architects Inc. of Portland. The brokers will be Gordon King and Paul Carlson of Cushman & Wakefield. Wells himself is a former C&W broker, and Carlson is his former partner. Panattoni hired Wells away last January to handle purchase and development of the 136-acre Fujitsu property in Hillsboro.