Melvin Mark, Standard Insurance Adding Buildings to Sunset Center at Tanasbourne

HILLSBORO, OR-Melvin Mark and Standard Insurance built the first 72,000-sf of a seven-phase, 650,000-sf class A office campus here on a 100% speculative basis. That first building, delivered last year, is now 92% leased to Merrill Lynch, First American Title and Southern Bell Telecom.

The second 72,000-sf building, to be delivered at the end of this year, would have been speculative had tenants not scooped up the space so fast. As is, building No. 2 is already two-thirds leased, says Jim Mark, president of Melvin Mark Companies, the Portland-based development, management and brokerage company.

“That made the decision (to break ground) a lot easier,” Mark tells GlobeSt.com. Mark isn’t revealing the tenants’ names until they give him the go-ahead, but it’s sparked development that is already permitted and set for a July ground-breaking. Mark says there are proposals out that, if signed, would fill 70% of the next two phases.