The property lies several miles southwest of Downtown Portland, about three miles west of Interstate 5. It is split into two parcels: 25 acres owned by the Itel family that make up the northern portion of the site, and a southerly 30 acres owned by brothers Stanley Sharp and Hadley Robbins.

"I think its one of the most significant development projects in the southwest over the last decade," says Brad Fletcher, managing director for the local Grubb & Ellis office and the one who bundled the properties and brought the deal to Wells. "Tualatin has much of the most valuable remaining industrial land in the I-5 corridor--if not in the (entire) Westside market--and this property is clearly the crown jewel."

Grubb & Ellis Tom Talbot and Cliff Finnell are signed up to handle the lease up and sale once all the entitlements are in hand. "The exciting thing about this is there's nothing else in Tualatin in terms of a large, master-planned business park environment," Talbot tells GlobeSt.com.