Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Speculative Industrial Park in OR Secures Construction Financing
Ethos Commercial Advisors secured construction financing for WB Commerce, a two-building, 154,000-square-foot speculative industrial park in Woodburn, Oregon.
The 11-acre site is ideally located off Highway 214, less than two miles from I-5 and only 30 minutes from Portland and Salem, Oregon. Woodburn continues to experience strong industrial rent growth, driven by significant investment from Amazon and other major users.
WB Commerce will help meet the area’s growing demand for modern industrial space. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated a 24-month construction loan at 62% LTC with a national debt fund.
The site is being developed into a new industrial park project with two buildings, with a parking lot, loading bays and landscaping at 1414 Commerce Way. The industrial park will feature two buildings, one measuring 65,000 square feet and the other 89,000 square feet. Cobalt is overseeing the construction, which is expected to be complete by late 2025 or early 2026.
