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Capstone Gaining More Port Land for Encore Project

PORTLAND, OR-With its inaugural 440,000-sf warehouse-distribution building in the Rivergate Industrial District nearing completion, locally based Capstone Partners LLC hooks up with Washington Capital Management again for a second, 290,000-sf building on an adjacent parcel.

By Brian K. Miller | Updated on January 11, 2006

(To read more on the industrial market, click here.)

PORTLAND, OR-Capstone Partners LLC is taking down another parcel in the Port of Portland’s Rivergate District for an encore warehouse-distribution development. The 16.4-acre site, located next to the 21.3-acre site it acquired early last year, will be home to a 288,915-sf warehouse-distribution building. Site work is expected to get under way later this year.

On the first site it acquired, a 440,000-sf warehouse-distribution building will be completed in February. No leases have been signed for that building. However, Capstone reportedly is close to finalizing a lease that will fill up 40% of the building, and the fact that it is taking down an additional parcel may speak to the company’s confidence in closing the deal. Capstone principal Chris Nelson could not be reached Wednesday for comment.

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