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 2nd 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.

Courtesy of SERA Architects

Aerial photo courtesy of Perlo Construction

With the landscaping in and the parking lot paved, this light industrial building in Vancouver, WA is about ready for occupancy.

Photo courtesy of Perlo Construction

In addition to significant progress on the roof last week, the building was painted, landscaping started and over half of the parking area was paved.

Photo courtesy of Perlo Construction.

Progress on Portside Logistics Park continues to gain momentum. The wall panels of the 289,737 SF building were tilted in early November 2019. The building will have a cross-dock configuration with 51 dock positions and generous vehicle parking.

This industrial park is strategically located in Vancouver, WA with excellent access to regional air, freeway, rail, and marine systems. Construction is expected to be completed in 2020.

For information about leasing opportunities at Portside Logistics Park, please contact the listing brokers at Macadam Forbes, Stu Peterson at 503.972.7288 or Joe Curran at 503.972.7276.

Photo courtesy of Perlo Construction

Following the successful lease up of Portside Industrial Park (Portside Phase I) and the sale of the Portside Phase II property to an owner/user, Specht purchased the Portside Phase III land in August 2019. Construction of a 289,737 SF building on the site has commenced. The building will have a cross-dock configuration with 51 dock positions and generous vehicle parking.

The location is unmatched in Vancouver, WA with excellent access to regional air, freeway, rail, and marine systems.



Specht Properties, Inc. welcomes its newest tenant, Samuel, Son & Co. (USA), Inc., to Vista Logistics Park in Gresham, Oregon. The metal materials processor and distributor signed a lease with Madison-Specht Vista Logistics LLC in July for 125,624 square feet (all of Building B) in Vista Logistics Park. Tenant improvement construction has commenced and it is anticipated that Samuel, Son & Co. will take occupancy in late October 2019.

Vista Logistics Park is the largest single-phase speculative industrial development in Portland’s history, with a total of 733,232 SF on 37.42 acres. The project, which is in Gresham’s Enterprise and Foreign Trade zones, is equipped with an ESFR fire suppression system, LED lighting inside and out, heavy power accessibility, ample dock doors, trailer parking, and a clear height of up to 36 feet. There is still 196,963 SF available for lease, divisible down to approximately 98,481 SF.

Samuel, Son & Co. was represented by Scott Murphy of Kidder Mathews and David Woodiwiss of Colliers International. Madison-Specht Vista Logistics LLC was represented by Don Ossey, Dave Ellis and Tom Knecht of Capacity Commercial Group.

ASB Real Estate Investments (ASB) announced today that Skanska – one of the world’s leading project development and construction groups – has leased 21,078 square feet at 1010 NW Flanders St, taking the entire fourth and fifth floors, in the heart of the upscale Pearl District of Portland, OR. ASB and partner Specht Development Inc. recently undertook an extensive redevelopment, transforming the former industrial property into highly desirable Class A, creative office and retail space.

Ownership was represented in the transaction by Trevor Kafoury, Al Kennedy, and Carlo Castoro of CBRE.  Skanska was represented in the transaction by Brad Christiansen and Mike Holzgang of Colliers International. 

Built in 1922 and listed on the U.S. National Register of Historic Places, the property features a distinctive brick façade with timber and concrete construction; flexible 10,000-square-foot floorplates, 11-to-14-foot high ceilings; hardwood floors; industrial-sized, operable windows for ample natural light; and exposed duct work. The $10 million refurbishment of the building by ASB and Specht also included a new 2,500-square-foot rooftop deck with panoramic views and features ample bike storage with shower and locker facilities.

Aaron Duncan, Senior Vice President and Head of Western Investments at ASB Real Estate Investments, said: “Skanska’s long-term commitment to 1010 Flanders shows the significant interest from best-in-class companies in the loft style space we have created to meet growing tenant demand in the Pearl District.”

In addition to its location in one of Portland’s most vibrant neighborhoods, 1010 NW Flanders offers commuters immediate access to Interstate 405, public bus lines, and the Portland Streetcar line which runs by the property connecting South Waterfront, the Portland State University, the Central Business District and the Northwest Portland District.  The property has achieved a Walk Score of 100, transit score of 95 and bike score of 97.

Imperial Brown, Inc., specializing in the production and distribution of walk-in coolers and freezers, signed a lease with Madison-Specht Vista Logistics LLC for 113,144 square feet (all of Building A) in the Vista Logistics Park in Gresham, Oregon. Tenant improvement construction has started, and it is anticipated that Imperial Brown will take occupancy in June 2019.

Vista Logistics Park is the largest single-phase speculative industrial development in Portland’s history, with a grand total of 733,232 SF on 37.42 acres. The project, which is in Gresham’s Enterprise and Foreign Trade zones, is equipped with an ESFR fire suppression system, LED lighting inside and out, heavy power accessibility, ample dock doors, trailer parking, and a clear height of up to 36 feet. There is still 322,587 SF feet available for lease, divisible down to approximately 37,000 SF.

Imperial Brown, Inc. was represented by Stuart Skaug of CBRE and Madison-Specht Vista Logistics LLC was represented by Don Ossey, and Tom Knecht of Capacity Commercial Group.