PORTLAND, OR—Trammell Crow Co., in joint venture with a commingled fund managed by Clarion Partners, announces the development of a 600,000-square-foot distribution center for Subaru of America Inc. in Gresham, OR.
Those involved in the deal could not disclose construction costs to GlobeSt.com at this time. The facility will be located at the intersection of NE 38th Drive and NE 242nd Drive in the Port of Portland's 220 acre Gresham Vista Business Park. The project is Trammell Crow Co.'s second significant development for Subaru on Port owned property and the most significant development at Gresham Vista since the Port acquired it in 2011.
“We're pleased to welcome Subaru as our first industrial tenant in Gresham Vista, and continue our partnership with Subaru and Trammell Crow to support the growing regional automotive business,” says Bill Wyatt, Port executive director. “This successful business investment is a direct result of the close partnership between the City, Port and the private sector, and the region's industrial site readiness efforts.”
According to Steve Wells, senior managing director for Trammell Crow Co.'s Portland Business Unit, “The property's large size, shovel ready status, favorable soils, Enterprise Zone benefits, and easy access to I-84 made it a logical choice for the project. Even with those advantages, the project would not be possible without the responsiveness of the City of Gresham and the Port to the aggressive schedule required for the project.”
Gresham Mayor Shane Bemis says, “This is a very important win for Gresham, and a great win for the entire state and region. We have worked tremendously hard for years to improve Gresham's competitiveness, and Subaru's decision validates our efforts and aggressiveness in this arena. Longtime Gresham residents will immediately understand the significance of seeing a huge new industrial development on the Gresham Vista site, bringing jobs and vital economic investment to town.”
Subaru operates regional parts distribution facilities in Portland, Atlanta, Indianapolis, Denver, New Jersey and Southern California. This project will relocate Subaru's master distribution facility, which serves the regional facilities, from Japan to Portland. The facility will sit on 40 acres to allow for future expansion of up to 236,000 square feet. The Portland regional distribution center, a 413,900-square-foot facility located in the Port's Rivergate Industrial Park, will continue to operate.
Groundbreaking is slated for August 2015 and occupancy by October, 2016.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
