SE 223rd & SE Stark St
Gresham, Oregon 97030

Property Name: Vista Logistics Park
Product Type: Industrial
Size: 732,824 sf
Cost: $61,700,000
Completed: 2017
Role: Owner, Developer
Description:

In August 2016, Madison-Specht Vista Logistics LLC, a partnership between Portland-based Specht Development, Inc. and New York Life Real Estate Investors LLC, commenced construction on 732,824 square feet of speculative industrial space in three buildings on a 37 acre site in Gresham, Oregon. The site will be home to Vista Logistics Park, a regional logistics park that the Portland-based development, property and construction management company is creating to serve the needs of distribution and industrial businesses.

Vista Logistics Park is the largest single phase speculative development ever constructed within the Portland metropolitan area. The project will offer the largest single industrial space under one roof, with one of the buildings consisting of 494,464 square feet.

The largest building will have a minimum clear height of 36 feet. Two smaller buildings, of 112,940 and 124,420 square feet respectively, will have clear heights of 30 feet. The project’s additional amenities include: generous truck courts, ample trailer and passenger car parking, and easy access to Interstate 84.

The site was purchased for $9,280,000 from the Port of Portland which worked closely with the city of Gresham to allow Specht to break ground less than two months after the purchase and sale agreement was signed.

Don Ossey and David Ellis will lead the Capacity Commercial Group brokerage team that is charged with leasing the project. The project will be completed in late summer of 2017. Mackenzie is the project architect and engineer, and Perlo Construction is the general contractor.