733K SF of Spec Industrial Construction Launches in Oregon

Specht Development Inc. and New York Life Real Estate Investors LLC have joined forces to begin construction on Vista Logistics Park. The speculative development will add 732,824 square feet of industrial space in Gresham, OR, part of the Portland MSA.

The three buildings are situated on 37.4 acres at SE 223rd and Stark Streets. The site was purchased for $9.2 million from the Port of Portland.

“Vista Logistics Park is the largest single-phase speculative development constructed within the Portland metropolitan area,” said Don Ossey with Capacity Commercial Group, who is handling leasing with colleague David Ellis. “The project will also offer the largest single vacant industrial space under one roof, with one of the buildings consisting of 494,464 square feet. Currently, buildings larger than 300,000 square feet do not exist in our area.”

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