Largest Speculative Industrial Lease-Up in Portland Metropolitan Area History
Portland, OR September 17, 2024 – Colliers is proud to announce the successful lease-up of Burnt Creek Logistics Center, a 681,780-square-foot industrial facility in Vancouver, Washington. This monumental long-term transaction, valued at over $51 million, represents the largest speculative industrial building lease-up in the history of the Portland metropolitan area, with the entire building leased to an undisclosed national grocer tenant.
Serving as representatives for the landlord and ownership, Panattoni Development Company and LaSalle Investment Management, the Colliers team of Jerry Matson (SIOR), Brian Yoakum (SIOR) and Tom Knecht (SIOR) guided the project through its full cycle—from brokering the initial land sale to overseeing ground-up development and ultimately securing the tenant to complete the lease-up.
“This transaction is a testament to our team’s ability to spot future trends and execute resilient business plans that can achieve exceptional results, even in turbulent times,” said Matson, Vice Chairman at Colliers. “The Burnt Creek Logistics Center has served as a much-needed bellwether for Southwest Washington as a logistics hub and securing a national retailer for the full building lease underscores the strength of the market and the demand for high-quality, Big Box industrial space.”Located on 38.89 acres, Burnt Creek Logistics Center includes a 40-foot clear height, 128 dock-high doors, and four grade-level doors, making it ideally suited for large-scale logistics operations. As the largest speculative industrial building ever constructed in the Portland metropolitan area, this state-of-the-art facility sets a new standard for the region.
