Ford Looks for Space in Dusty Industrial Market

PORTLAND-A prime example of what can be expected in the way of industrial activity in 2002 can be seen at Southshore Corporate Park. Catellus is finishing up a speculative 95,000-sf warehouse, while a second, 84,000-sf building that was supposed to be underway has been put on hold.

“Based on absorption and momentum that has occurred at the park, we see pretty much every deal in the marketplace,” says Tom Talbot, the Grubb & Ellis broker with the leasing assignment at Southshore. “We’ve had some interest in the building and there are some good prospects, but nothing concrete at this time, nothing that makes us feel confident that it will be filled anytime soon.”

Still, there has been some absorption as of late, says Talbot, rattling off eight warehouse leases that have been signed in the last 60 days — two on Airport Way, two in Milwaukie, and one each in Beaverton, Tigard, Wilsonville and Swan Island — all for spaces between 40,000 sf and 50,000 sf. The deals no doubt were made at rental rates lower than they’ve been the past year or two, but the fact that there’s been 400,000 sf of activity is nothing to scoff at.