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.

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.

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.

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.

Madison-Specht Vista Logistics LLC is pleased to announce the execution of a lease at Vista Logistics Park to Medline Industries, Inc. Medline will occupy 297,501 SF of space, leaving a total of 435,731 SF still available for lease at Vista Logistics Park, divisible down to approximately 37,000 SF.

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 located 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.

Medline is the largest privately held manufacturer and distributor of medical supplies, uniquely positioned to provide products, education and support across the continuum of care. Their ability to bring best practices from one care setting to another — from large healthcare systems and independent physician practices to home health patients and their families, is what sets them apart. Their team is made up of clinicians, researchers, engineers, financial experts and 1,200 direct sales representatives with outstanding expertise. They know the healthcare business from the bottom up and top down.

Medline Industries, Inc. was represented in the transaction by Tyler Sheils of JLL and Michael Morgan of Colliers International. Madison-Specht Vista Logistics LLC was represented by Dave Ellis, Don Ossey, and Tom Knecht of Capacity Commercial Group.

The tenant improvement construction for Staples Contract & Commercial, Inc. at the Interstate Crossroads Distribution Center is well underway and remains on schedule, with an expected completion date of early June, 2017.

The buildout was designed and permitted by Mildren Design Group and is being constructed by Perlo Construction. The project includes warehouse lighting, dock equipment, forklift stations, security measures, an office, and a driver’s lobby.

The office is now fully demised, dock pits are receiving equipment, and rooftop HVAC units have been installed.  Permanent site fencing has also been installed.

Staples leased 263,413 square-feet of the Interstate Crossroads Distribution Center which is located within Portland’s Airport Way industrial submarket at 16441 NE Cameron Boulevard. The office product supply company will use the facility for the warehousing and distribution of consumer goods.

 

Specht Development announces a new lease with Staples Contract & Commercial, Inc. (Staples). The office product supply company has leased 263,413 square-feet of the Interstate Crossroads Distribution Center (ICDC) — a state-of-the-art warehouse and distribution center that was developed in 2015 by Interstate Crossroads, LLC (a partnership between Specht affiliates and Pacific Coast Capital Partners, LLC) and is managed by Specht Properties, Inc.

Staples will use the facility — located within Portland’s Airport Way industrial submarket at 16441 NE Cameron Boulevard — for the warehousing and distribution of consumer goods.

“Our goal with developments like ICDC is to create speculative industrial product that will meet the specific demands of future warehouse, distribution and manufacturing tenants and users.” said Greg Specht, Chief Executive Officer, Specht Development.

Situated on 28.14 acres of land, ICDC is a 492,554 square-foot distribution facility featuring 32’ clear height, 104 loading docks and excess trailer storage. The Staples lease brings ICDC to 100 percent occupancy.

ICDC was represented by Paul Breuer and Jerry Matson of the Portland office of Colliers International.

On February 15, 2017, OnTrac took possession of 163,328 SF in the Portside Industrial Park located in Vancouver, WA. OnTrac, a regional parcel carrier, leased the space from GRE Portside LLC, a joint venture between Specht Development, Inc. and Guggenheim Partners.

The Portside Industrial Park is a state-of-the-art industrial space designed to serve industrial, manufacturing and distribution users. There are two remaining spaces, approximately 95,000 SF each, still available for lease. Joe Curran and Stu Petersen of Macadam Forbes serve as leasing brokers for the project.