Panattoni Ties Up Another, Plans 600,000-SF Corporate Park

TUALATIN, OR-Panattoni Development is continuing its Portland-area onslaught with a 55-acre, industrial-zoned parcel on Tualatin-Sherwood Road it tied up recently. If it closes on the property later this year, Panattoni’s Northwest point man Mike Wells tells GlobeSt.com he’ll have the necessary permits in hand for a 600,000-sf corporate park.

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.”