Brent Hedberg Promoted to President of Specht Development, Inc.

Brent Hedberg was promoted from vice president and partner to president of Specht Development, Inc. effective December 1, 2024. The former president Greg Specht will continue to serve as CEO.

After graduating from Oregon State University, Brent has spent his entire career in commercial real estate development. He started as a project manager with Specht in 2006. Brent is responsible for sourcing new real estate development and acquisition opportunities from conception to delivery. This includes overseeing due diligence activities, underwriting and financial analysis, facilitating debt and equity financing, securing entitlements, contracting project team members, supervising the construction process, and negotiating leases and purchase & sale agreements.

The Ridgefield Industrial Center, a 468,810 square foot industrial facility located in Ridgefield, WA recently achieved full occupancy. This notable milestone marks the successful lease up of a project launched in August 2021.

Ridgefield Industrial Center was developed in a joint venture between RREEF/DWS and Specht Development, Inc. This successful partnership resulted in the construction of a single 36’ clear concrete tilt-up industrial building, delivered on time and under budget. The tenant makeup and swift leasing of this project reinforce the need for additional high-quality industrial space in the Portland/SW Washington market.

The project welcomed its first tenant, Child Logistics, Inc., in January 2023, followed by Ross Dress for Less, Inc., and Safeway, Inc. in May 2023, achieving full occupancy well ahead of schedule. The project, located on what may be the last site in the City of Ridgefield to allow for large distribution uses, was designed to maximize building coverage without the need to disturb the adjacent wetlands.

The project team would like to express its gratitude for professional brokerage efforts of Capacity Commercial Group and the representation of Ross Dress for Less, Inc. by Andy Kangas at CBRE, as well as Kevin Kriesien and Zach Niles’ representation of Safeway, Inc. “This project demonstrates our commitment to creating high-quality, strategically located industrial buildings. We are proud of this achievement and look forward to replicating this success in future projects” Greg Specht, President of Specht Development, Inc., added.

Specht has been under contract since 2019 as a construction consultant for the Cowlitz Indian Tribe in Ridgefield, Washington. Throughout the various development and construction phases, tribal leaders were incredibly thoughtful about expanding their resort & casino operations on the Ridgefield reservation in a meaningful yet dynamic manner. Specht was involved on many different levels during the design, procurement, and construction process and continues to provide consulting services as new projects evolve. Past Cowlitz Indian Tribe projects that Specht has been involved in include:

South site parking lot expansion
Cast-in-place concrete parking garage with six levels and 2,600 car capacity
Facility workshop and storage facility, 26,000 sf
Stadium Sports Bar & Restaurant
Bamboo 8 Restaurant
NW casino floor expansion project
Fourteen story, 289 room, four diamond luxury hotel tower
South retail building development, 9,000 sf

In June 2022, Saatva (https://www.saatva.com/about-us), a mattress company, leased 5,222 square feet on the ground floor of the 1010 Flanders building for use as a retail showroom. The building permit for the tenant improvement is currently in process with the City of Portland, and the store opening is estimated to occur in February 2023. Skanska USA Building Inc. and Verizon are the other two tenants in the 50,000 sf building.

The 1010 Flanders building constructed in 1922, located in the historic Pearl District, offers historical charm with 11- to 14-foot-high ceilings, vaulted ceilings, exposed duct work & timber beams, and a new lobby. The building location provides convenient access to TriMet MAX, bus lines and Portland Streetcar.

Specht Development, Inc. managed the $10 million remodel project to convert the building into Class A creative office space. Specht Properties, Inc. manages the property.

This construction photo of the Ridgefield Industrial Center shows a wall panel tilted into its vertical position where it forms the external structure of the building.

Construction of Specht Development’s Ridgefield Industrial Center in Ridgefield, Washington is progressing steadily. The project is a single, state-of-the-art, 468,793 SF industrial building with 36’ clear heights. Completion is expected in August 2022.

Mackenzie is the architect, with Perlo Construction serving as the general contractor.

In October 2021, Portland Industrial Owner LLC (an affiliate of Specht Development, Inc.) signed a lease with Heritage Specialty Foods for 132,397 SF at the 224 Logistics Park in Milwaukie, Oregon. The lease will commence on January 1, 2022 and Heritage hopes to be fully operational by June 1, 2022. The project represents a consolidation and significant expansion of Heritage’s operations. It will include office, food production areas, new freezer space with an underslab glycol system, cooler space, and ambient warehouse storage.

Heritage Specialty Foods is a family owned and operated food manufacturer specializing in kettle cooked foods like soups, chilies and stews. They also offer a variety of entrée specialties.

In August of 2021, Specht Development, Inc. anticipates commencing construction on the Ridgefield Industrial Center, a single 468,793 SF industrial building on 50.02 acres in the Union Ridge Business Park in Ridgefield, WA.

Specht intends to develop the project in a joint-venture structure with a to-be-named capital partner. Upon receipt of all jurisdictional entitlements, Specht will close on the purchase of the land and expects to complete the project in August of 2022.

When completed, the Ridgefield Industrial Center will be a state-of-the-art industrial facility with 36’ clear heights and ample room for additional trailer parking at the southwest portion of the property, making it one of the most competitive and attractive industrial developments in the region. Mackenzie will be the architect of record for the project, with Perlo Construction serving as the general contractor.

In December of 2020, Specht Development, Inc. (“Specht”) executed a Master Development Agreement with the Port of Portland (“Port”), to develop Lot 5 in the Gresham Vista Business Park (“GV5”). GV5 is approximately 48-acres in size and remains one of the Port’s largest parcels of undeveloped land, which will serve as a critical site for the advancement of the region’s economic future.

Specht will develop GV5 around a framework focused on diversity, equity, and inclusion (“DEI”), and will implement this strategy through a unique partnership with Colas Development Group, who will serve as co-developer of GV5. In addition, Colas Construction, Inc. will participate as the co-general contractor, Jones Lang Lasalle will serve as the real estate broker, and Mackenzie and Perlo Construction, LLC will serve as the architect and co-general contractor, respectively. Further, and as inspired by the Port’s Mentor Protégé Program, Specht has identified protégés in Amelia Salvador and Summit Engineering, who will serve as consultants and subconsultants with the brokerage and architecture teams, and will work alongside key partners throughout the process.

Specht’s team member partnerships are designed to increase practical experience, business growth, and prosperity through participation in the development of GV5.

Specht intends to develop multiple build-to-suit manufacturing facilities at GV5 for prospective tenants, who are also committed to sharing in the collective DEI vision for this project.

Specht became involved with the acquisition and redevelopment of the 220 office building, located at 220 NW 2^nd building in January 2018. The previous owner of the property was Pacific NW Gas, which used the building as their corporate headquarters. Major renovations to this Class A building are well underway and expected to be completed in late 2020, and are being overseen by Specht Development, Inc. Extensive upgrades include an updated building facade, new exterior entrances, redesigned ground floor retail space along with an expanded destination lobby brimming with collaborative spaces and a large state-of-the-art conference room.

The west building entrance is being enhanced with a spectacular mural by local artist Martin French. Other amenities include an outdoor terrace, bike storage with changing rooms, locker room with showers, fitness center, and 24-hour on-site security. Available office space will offer flexible open floor plans, full floor-plate availabilities, abundant natural light, and spectacular views of downtown, the waterfront and Mt. Hood.