About
History
Specht Properties, Inc
Greg Specht began his career in real estate in 1975, when he built his first duplex in Salem, Oregon. Fifteen years later he incorporated Specht Properties to perform all day to day management functions for the various Specht partnerships and holding companies. Specht Properties also provides construction and project management services to a wide range of third-party clients on a fee basis.
The basic business objective of Specht Properties is to provide quality, customized real estate advice to our partners, our tenants and to our clients. We really like what we do, and we believe we do it very well.
Specht Development, Inc
Specht Development was formed in 1992 as the development services arm for all related Specht entities and is located in the Lincoln Tower in Portland, Oregon. Specht Development has been involved in all sides of real estate transactions, as advisor, buyer, seller, partner, and developer. This perspective enhances our ability to achieve market and client goals and to offer cost effective and creative solutions to real estate opportunities.
Company History
Greg’s Career Started in Residential Construction
His early projects included single and multi-family
dwellings, subdivisions and various federally
funded housing programs. Greg built his first
duplex in Salem, Oregon in 1975.
Greg Survived the “Double Dip Recession”
in the early 1980’s by developing low and moderate
income housing in the Portland, Oregon area.
Transition to Commercial Development
Greg was hired by Scherzer-Moore Partners as
Vice President of Acquisitions and Development,
allowing him to move from residential to
commercial development. He became President
of Scherzer Partners in November 1988.
Parkway Plaza Buildings in Vancouver, Washington
During his tenure at Scherzer Partners, Greg worked on the development of three Class A buildings at Parkway Plaza from 1987 through 1989. These were developed in partnership with both Quest Investment Management, Inc. based in Portland, Oregon and the National Electrical
Benefit Fund based in Washington, D.C.
Commercial Development & Acquisition Growth
While at Scherzer, Specht was also responsible for several industrial developments along NE Airport Way, in Portland, Oregon, the development of the 248,000 sf Stafford Distribution Center in Wilsonville, Oregon and the acquisition of the 54-acre Beaverton Creek Business Park.
Specht Leaves Scherzer Partners
and in 1990 forms Specht Properties, Inc. Phase I of speculative light industrial developments in Beaverton Creek, totaling 160,000 sf was completed in 1991.
Over 1.6 Million Square Feet of Specht Projects
By 1993 Specht and its affiliated companies had
developed or managed the development of over
1.6 million sf with a cost basis of over $84 million.
B.U.L.L. Session Charity Golf Tournament
The first year Specht was a sponsor through its Scotch & Cigars hospitality tent at the Business, Union and Labor Leaders golf tourney, raising money for local non-profits. Specht has continued its support of the B.U.L.L. Session since 1994.
Airport Way Industrial Developments
Specht continues its successful relationship with Quest Investment Management through multiple phases of multi-building projects, located along NE Airport Way in Portland. The buildings were completed during the period 1988 through 1995.
Specht Develops Riverside Industrial Park
This 129,142 sf two-building industrial facility was the first speculative industrial development by Specht for its own portfolio. It is located off Airport Way near the Portland airport and offers immediate access to I-84 and I-205.
IBEW Local 48 Headquarters
Specht completed two build-to-suit projects, one as the headquarters for IBEW Local 48, and the other also for Local 48 which is the Metro Electrical Training Center. Both were completed in 1998 and are located on NE Airport Way in Portland.
First Tech Federal Credit Union
Beaverton Creek Phase IV was developed as the
corporate headquarters for First Tech Federal Credit Union. The 49,885 sf building was completed in 1998, at a cost of $8 million and is located within the Beaverton Creek Business Park.
Beaverton Creek Phase V & Rock Creek Corporate Center
Specht developed both the 82,000 sf Beaverton Creek Phase V and, for a corporate client, the 142,000 sf Rock Creek Corporate Center.
Angela Klingsporn, Administrative Assistant, joined Specht in 1999
Angela's friendly, proactive approach to service and open communication shines in managing the front desk and providing administrative support for our team members.
Specht Industrial Building IV
Completed in December 1999, the Specht Industrial Building IV totals 23,106 sf. The building is located in NE Portland.
Tigard Corporate Center
Specht finished construction on the three building, 120,000 sf Tigard Corporate Center. In addition, a 362-stall, 5-story parking garage was built. This speculative project was fully leased prior to completion of construction.
Over 3.5 Million Square Feet of Specht Projects
Specht and its affiliated entities have developed
or managed the development of over 3.5 million
sf with a cost basis of over $227 million.
Toni Wheat, Controller, joined Specht Properties in December 2000
Toni is a licensed CPA and is responsible for business accounting and financial recommendations spanning business development, cash management, strategic planning, and operations.
Precision Interconnect Headquarters Completed
Specht developed this 260,000 sf corporate
headquarters facility in Wilsonville, Oregon for
Precision Interconnect, Inc.
Robin Frybarger joined Specht Properties in 2003 as the Office Manager
Her range of administrative and technical skills makes Robin well suited to the many facets of the office manager position at Specht.
Bonnie August, Property Manager, joined Specht Properties in 2004
Bonnie is a property manager licensed in the State of Oregon and holds the prestigious CPM® designation. She manages both third-party and in-house properties in the Portland metropolitan area.
Major Win for the Specht Team
Specht Development completed the 168,000 sf Hillsboro Civic Center at a cost of $31 million. The building was awarded the LEED Gold certification, the second city hall in the United States to earn that distinction.
New City Hall for Wilsonville
Specht Development completed the project in 2006 for $11,500,000. The 7-acre development included a two story, 30,000 sf building with an Emergency Operations Center and parking for staff and visitors.
Brent Hedberg, President, joined Specht Properties in 2006
Brent has worked in commercial real estate development his entire professional career. He is responsible for sourcing new development and acquisition opportunities.
Beaverton Creek Phase VI
Specht completed the 50,000 sf office building in 2006 for $8.2 million. The building is located the Beaverton Creek Business Park in Beaverton, Oregon. Upon completion, the building was fully leased to First Tech Credit Union.
Specht Serves as Project Manager for the Lovejoy Blocks
Block 1 is a nine-story, 290,000 sf mixed-use building with ground floor retail, four levels of parking, and 3 levels of office. Block 2 offers a unique, multi-level structure, with a variety of for-rent residential units and an integrated
parking structure for residents.
Katie Reed, Accountant, joined Specht Properties in 2009
Katie is responsible for all of the day-to-day aspects of property management accounting which includes tenant receivables, bank reconciliations, preparing monthly operating statements and other financial reports.
Farwest Steel in Vancouver, Washington
Specht served as Development Manager for
Farwest Steel on their 361,000 sf facility in
Vancouver, Washington.
Sokol Blosser Winery hires Specht Development
Specht managed the construction of the winery’s new 7,500 sf tasting facility, located in Dayton, Oregon. The project includes indoor and outdoor spaces for wine tasting and other events.
Over 7.6 Million Square Feet Created
Specht and its affiliated entities have
developed or managed the development
of over 7.6 million sf of commercial space
with a cost basis of over $625 million.
Interstate Crossroads Distribution Center
Situated on 28.14 acres, the Interstate Crossroads is a 492,554 sf distribution facility. The project was built on speculation and was subsequently fully leased to two tenants.
Specht Moves to the Tower in Lincoln Center
The Specht companies move to their current
location in the Lincoln Tower in Portland, Oregon.
Valley Catholic Science Building
Specht Development was hired by Valley Catholic High School as the project manager for their new science center. This building is part of the Sisters of St. Mary Oregon campus in Beaverton, Oregon. The two-story, 13,000 sf science building contains five state-of-the-art science labs.
Chris Hartson, VP of Construction and Partner, joined Specht Properties in 2016
Chris manages all aspects of construction for new developments, tenant improvements, and third-party construction projects.
Vista Logistics Park
The Vista Logistics Park is the largest single phase speculative industrial development ever constructed within the Portland metro area at 733,232 sf. It was completed and fully leased in 2017.
Portside Industrial Park
The Portside Industrial Park is a state-of-the-art industrial project located in Vancouver, Washington. The 352,560 sf project was completed in February 2017, and fully leased to three tenants within 12 months of completion.
Over 9.5 Million Square Feet Created
Specht and its affiliated entities have
developed or managed the development
of over 9.5 million sf of commercial space
with a cost basis of over $825 million.
Specht Joint Venture — 224 Logistics Park
Specht, along with an institutional partner, acquired the 62 acre, 1,012,000 sf industrial facility, now known as the 224 Logistics Park, located in Milwaukie, Oregon for $48.5 million. The seller leased back the property for two years. Specht then began the complete four year renovation and releasing of the entire property, and successfully sold it in the fall of 2024.
Tyler Reeves, Project Manager & Partner, joined Specht Properties in 2019
Tyler coordinates due diligence studies & reports and prepares financial analyses on potential development projects. In addition, he conducts market research and assists with the development of business plans in new markets.
Cowlitz Indian Tribe Contracts with Specht
Since 2019, Specht has served as a construction consultant for the Cowlitz Indian Tribe as they develop their Ilani Casino in Ridgefield,
Washington. Their project scope includes a 2,600-stall parking structure, a 15-story hotel and the expansion of restaurants and
gaming facilities.
Veronica Hampton, Assistant Property Manager, joined Specht in 2020
Veronica assists with the day-to-day operations of Specht’s property management portfolio and strives to ensure that all tenants, clients and vendors have a positive experience.
Construction Wraps Up at Portside Logistics Park
Specht purchased the Portside Phase III land and completed construction of a speculative 289,737 sf building on the site in 2020. Upon completion of construction, the property was sold to a user.
I-5 Logistics Center Acreage Sold to Amazon
Specht sold 127 acres in Woodburn, Oregon
to Amazon who then began construction of a
3.8 million sf distribution center on the site.
Ridgefield Industrial Center
This speculative 469,000 sf project, located in Ridgefield, Washington, was completed in late 2022. The project was fully leased within two months of completion of construction.
Justin Dennett, Vice President, joined Specht Properties in 2025
Justin is responsible for the sourcing, structuring and oversight of the firm’s acquisition of existing real estate assets.
Today
Specht and its affiliated entities have developed or
managed the development of over 14 million sf of
commercial and industrial real estate with a cost
basis of over $1 billion.