Mason Street Phase II Finds Early Taker

PORTLAND-Applied Industrial Technologies has signed a 10-year lease for 70,000 sf in Mason Street Phase II, a 135,000-sf industrial building under construction on Airport Way.

The developer is Portland-based Eastern Western Corp. which developed a larger Phase I last year as a build-to-suit for West Coast Paper. Until the $3.7-million lease deal with Applied Technologies, Phase II was a speculative project.

Cleveland, OH-based Applied Industrial will move from a 60,000-sf building at 2720 N.W. 29th Ave. in Northwest Portland, a property for which a prospective buyer in reportedly in due diligence. The new space has only a slightly larger footprint, but its 26-foot-clear ceilings will effectively double capacity for the industrial components supplier.