Specht and Colas to Develop GV5

January 8, 2021

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.