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Bethany Village Office Project 88% Preleased

PORTLAND-The two-story 20,000-sf office building is under construction at 15220 NW Laidlaw Rd. Decision One Mortgage, which is more than doubling in size from another Bethany Village office building, has leased more than half of the building, and Doernbecher Pediatrics also has leased space.

By Brian K. Miller | Updated on November 30, 2004

PORTLAND-The latest office development at Bethany Village is under construction and 88% preleased, according to Roy Kim, president of Central Bethany Development. The two-story, 20,000-sf office building is under construction at 15220 NW Laidlaw Rd. Construction of the $4-million project, which includes an adjacent parking structure, is scheduled to be complete by early spring 2005.The building’s anchor tenant will be Decision One Mortgage. Currently located in about 4,800 sf in one of the four other Bethany Village office buildings, Decision One preleased 12,000 sf in Terrace Plaza. Doernbecher Pediatrics preleased another 5,500 sf, leaving just 2,500 sf available. Advertised full-service lease rates in the Bethany Village office buildings are in the low $20s per sf. Bethany Village is a mixed-use, pedestrian-oriented master planned community located on 138 acres in Northwest Portland. Three of the four existing office buildings are virtually full. The other is about 63% occupied, with the available space still in shell condition. A company spokesperson tells GlobeSt.com there are about 30 acres remaining to be developed.Umpqua Bank is providing construction financing for Terrace Plaza. Central Bethany Construction is the general contractor.

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