Specht Development Begins Portside Industrial Park
Specht Development recently purchased 19 acres of land located immediately across from the Port of Vancouver’s Centennial Industrial Park in a joint venture with Guggenheim Partners. The first phase of what will be a three-phase construction project is currently underway. At completion, a total of 43 acres will be transformed into the Portside Industrial Park, a state-of-the-art industrial space ideally situated to serve marine, rail and freeway infrastructure.
“Portside property, once a settling pond for Boise Cascade, is an example of the seller successfully cleaning and filling this site over a period of several years,” said Gregory Specht, Chief Executive Officer for Specht Development. “We are greatly concerned by the lack of available land for larger industrial projects in both Oregon and SW Washington. The region needs additional land for industrial and employment development opportunities than what currently exists.”
Construction on two buildings totaling 352,874 square feet commenced immediately after closing. At full build-out, the project will accommodate up to 800,000 square feet of building area. The project’s first phase will be completed in the fourth quarter of 2016.
Mackenzie is serving as the project architect, with Perlo Construction serving as the general contractor.
“We have an excellent, long term relationship with both Perlo and Mackenzie so we feel very comfortable with them on our Portside team,” said Specht.” Just three years ago, our three firms recently completed the $49 million Farwest Steel Service Center project together just down the road from our Portside project.”
Joe Curran and Stu Petersen of Macadam Forbes represented the seller of the land (2600 LLC) and will serve as leasing brokers for the project. Express Messenger Systems, Inc. has already leased 162,240 square feet of space within the development.