Colliers has successfully completed the lease-up of Burnt Creek Logistics Center, a 681,780-square-foot industrial facility located in Vancouver, Washington. The total value of the long-term transaction is over $51 million and marks the largest speculative industrial building lease-up in Portland’s history. The entire building has been leased to an undisclosed national grocer tenant.
Representing both landlord Panattoni Development Company and ownership LaSalle Investment Management, Colliers’ team consisting of Jerry Matson, Brian Yoakum and Tom Knecht oversaw all aspects of the project from brokering the initial land sale to overseeing development and securing a tenant for full occupancy.
Matson commented on this achievement saying that “The Burnt Creek Logistics Center has been a crucial addition to Southwest Washington’s logistics hub. Securing a national retailer as our sole tenant further demonstrates market strength and demand for top-notch Big Box industrial space.”
Situated on 38.89 acres of land, Burnt Creek Logistics Center boasts impressive features such as 40-foot clear height ceilings, 128 dock-high doors,and four grade-level doors. This property holds significance as it is also currently Portland’s largest speculative industrial building ever constructed.
This news was originally reported by Connect CRE.
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