Berrey Properties Developing Industrial-Flex Space

WILSONVILLE, OR-The final phase of Canyon Creek Business Park is under way. Berrey Properties has broken ground here for two speculative industrial-flex buildings totaling 85,000 sf that will complete the six-building 260,000-sf complex off exit 286 from Interstate 5.The new buildings–the 45,050-sf Building C and 40,108-sf Building D–will concrete tilt up construction with abundant exterior glass for the office space and dock high and grade level loading doors to serve the warehouse. Warehouse ceiling heights will have a minimum clearance of 25 feet. Interior office/showroom or flex space will be built-to-suit to meet customers’ requirements.Delivery of the buildings will be September 2004 for Building C and early 2005 for Building D. CIDA Architects and Holm Brothers Construction continue to serve as the design and build team. The leasing assignment is in the hands of Trammell Crow Co. senior vice presidents Dave Ellis and John Fettig. No asking lease rates have been made public, but local brokers familiar with the property say the asking rate is in high $0.30s per sf per month on the shell. The office surcharge is reportedly $0.65, including a $35 per sf tenant improvement allowance.Ellis tells GlobeSt.com that there is only a small amount of sublease availability in the completed Canyon Creek buildings and Wilsonville vacancy rates have been falling. “The timing is good for new product of this type,” says Ellis. “There is already some pretty good prelease dialog going on.”