It's the third phase of the Center's development

PORT OF PORTLAND - Phase three of the PDX Logistics Center, outlined in yellow, was approved Wednesday by the Port of Portland's Commission.The Port of Portland Commission approved a 14-acre, 50-year lease with local firm Capstone Partners and its investment partner PCCP to develop the third phase of the PDX Logistics Center at the Port — the Center's fourth and fifth buildings.

“This lease and development will create more local jobs and give traded-sector businesses room to expand or grow in our region,” said Keith Leavitt, Port’s chief commercial officer. “The property’s unique location next to the airport, freeways and other businesses offer users uncommon access.”

The PDX Logistics Center is located within the Portland International Center, south of Northeast Airport Way, and totals more than 1 million square feet across five buildings.

The location offers proximity to I-205, airport freight and transportation, the TriMet Airport Max light rail line and Cascade Station shopping center, offices and hotels.

“The combination of air and ground transportation services infrastructure and immediate access to I-205 makes PDX Logistics Center ideally suited for a broad range of industrial tenants,” said Chris Nelson, a principal at Capstone Partners. “The ability of this region to have shovel-ready industrial land for companies that wish to expand or relocate to Portland is critical to the long term economic health of our region.”

Already, phase one is complete and phase two is in the works.

Phase one, a 26-acre project, included two buildings now fully leased to trade and logistics tenants Gateway Express, a Singapore-based ecommerce company, Ernest Packaging, a specialty packaging company and KeHE Distributors, a natural, organic food distributor.

Phase two, covering 17 acres, is a third, 355,200 square foot building now under construction with a July completion date.

Phase three, which the Port approved today, adds two final buildings, totalling 250,000 square feet. Construction is expected to begin in July with a summer 2017 completion date.

Contract Publishing

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