TCC Wins 1M-SF Industrial Management Gig

PORTLAND-The local Trammell Crow Co. office has landed a two-property, 1.2-million-sf property management assignment from investment advisor ING Clarion Partners. The properties–Columbia Commerce Park and the Marine Drive Distribution Center–are part of the 7.1-million-sf Western industrial portfolio that ING picked up from CalWest Industrial Properties earlier this month for $474 million (For that story, click here .)Columbia Commerce Park is located along Northeast Columbia Boulevard at Northeast 59th Place in the Airport Way submarket. It consists of 11 industrial warehouse buildings totaling 562,888 sf. The park was built in four phases with initial phases of construction dating back to 1976. Current tenants in the project include ADP, Siemens, Express Copy and Paragon Pacific Insulation. Vacancy is just under 30%, according to officespace.com.The Marine Drive Distribution Center is located along North Leadbetter Drive across from the Port of Portland’s Terminal 6. It was built in three phases and contains four buildings totaling 598,750 sf. Current tenants in this project include Boise Cascade, Valvoline, Appleton Papers and Quebecor World Logistics. Vacancy is about 22% and all of it is in two buildings, according to officespace.com.TCC’s vice president of property management, Elizabeth Maxwell, and property manager Denise Bourland, will be leading efforts to manage these new projects. The additions take TCC Portland’s management portfolio to 5.5 million sf. ING Clarion says it acquired the CalWest portfolio on behalf of two open-end ING Clarion commingled funds and one ING Clarion separate account client. According to Trammell Crow, the Portland properties were acquired by that separate account client, which it says is Lion Industrial Trust, a Dallas-based real estate investment trust.There were four Portland properties in the CalWest portfolio. In addition to the two TCC is now managing, the properties include the nine-building, 530,000-sf Wilsonville Business Center in Wilsonville and the 176,634-sf Parkway Industrial Center. Who won the management assignment for those two properties could not be confirmed on Tuesday.TCC’s Portland area director Lindsay Gordon tells GlobeSt.com that ING appears to be spreading the CalWest portfolio over a number of different property management firms, so he was happy to land half of the metro-area space–especially since they are the two properties nearest a new industrial development that TCC is developing in partnership with ING.In 2004, TCC and ING Partners formed a national industrial development program, which will focus on sourcing and developing new bulk warehouse distribution centers in major markets throughout the US. The parties anticipate the development of up to $500 million of product over the life cycle of the program. Portland is already a target for future development projects for the program, including approximately 15 acres of land located at the intersection of Airport Way and 166th Avenue, which was acquired on March 31 to support the development of the Columbia Corporate Park, a two-building 202,000-sf industrial project scheduled to break ground next month.