Milgard Closes on Panattoni Property; Lay-Z-Boy Under Construction

TUALATIN, OR-Panattoni Development Co. is closing on the sale of the first and largest of four building-ready lots it created on 23 acres of raw land it acquired earlier this year and named Tualatin Sherwood Corporate Center, an eventual 500,000-sf development.

Milgard Windows of Tacoma has paid $3.7-million for a 13-acre site on which it plans to develop a 130,000-sf window manufacturing facility to replace one it has in Wilsonville, Ore.

Panattoni’s local partner Mike Wells tells GlobeSt.com that the next sale in the works is to Lay-Z-Boy, which has already started construction of a 50,000-sf distribution building on the southeast corner of 120th and Tualatin Sherwood Road, where Panattoni delivered a finished pad.