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Company, Industrial

Ridgefield, WA (July 21, 2022) –Specht Development, Inc, a Portland, OR based real estate development firm is pleased to announce the first tenant at its speculative 468,810 sf Ridgefield Industrial Center, located in Ridgefield, Washington. Child Logistics, Inc. has signed a long-term lease for 345,886 sf in the new single building development. The 50.02-acre project began construction in August of 2021 and will be complete in August of 2022. 

Commercial real estate brokerage firm, Capacity Commercial Group LLC, represented both Specht Development on the acquisition of the property, and also represented both Specht and Child in the lease, which calls for Child to relocate from their current smaller Vancouver facility. 

“As commercial brokers, we were pleased to be able to successfully work for our clients on both the sale and purchase of the land, as well as to bring qualified, credit tenants to this facility” said Mark Childs, SIOR, Principal with Capacity Commercial Group.

The newly constructed Ridgefield Industrial Center has 36’ clear heights, 109 dock doors, 4 grade level doors, and 44 trailer spaces, with City of Ridgefield approval for an additional 82 trailer stalls if needed by future tenants. Mackenzie is the architect of record for the project, with Perlo Construction serving as the general contractor.

“This substantially larger space will allow Child Logistics to consolidate and grow at this location. By consolidating three operations into one location, Child will be able to serve their customers more efficiently and provide additional space for current and future customers.,” said James Carroll, who along with Michelle Carroll own Child Logistics.  Additionally, the new location will allow Child to consolidate their Child Truck Line operations at the same site.

“We knew we had the right site from the beginning, located immediately adjacent to the Ridgefield Junction I-5 freeway interchange” said Brent Hedberg, Vice President of Specht Development, and a partner in the project. “We have constructed a best-in-class facility with most of it leased before it is completed. We have room for a maximum of two more tenants and are experiencing excellent activity on the remaining space.”

For more information about Specht Development, Inc., visit https://spechtprop.com/
For more information about Child Logistics, Inc., visit http://childtruckline.com/
For more information about Capacity Commercial Group LLC, visitwww.capacitycommercial.com

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Company, Industrial, Investments, Sale
George Diamond, Nicholas Diamond, Allen Patterson, SIOR, and Scott Miller at Capacity Commercial Group are pleased to announce the closing of 7000 S. 10th Street in Ridgefield, WA. George and Nick represented the buyer while Allen and Scott represented the Seller. 

This 112,256 SF recent-construction warehouse property sits on 6.4 acres in the area's fastest-growing industrial park. The three occupants (national and regional operators) all have long-term leases.

Completed in 2019, the asset has 9 dock doors, 3 grade doors, 3-phase 2,500 amp power, and 30' clear height. Located in a growing industrial park in the up-and-coming city of Ridgefield, the property also has ample parking in relation to its area.

Truly a standout amongst new-construction industrial offerings, the property sets a strong benchmark for sales performance of industrial investments in the area.

As part of the sale, The Diamond Team spearheaded an investment group to purchase the property for a strategic long-term hold.

For more information, please contact: 

George Diamond
503.222.2178
gdiamond@capacitycommercial.com

Nicholas Diamond
503.222.2655
ndiamond@capacitycommercial.com

Allen Patterson, SIOR
503.542.4347
allen@capacitycommercial.com

Scott Miller
503.517.9872
scottm@capacitycommercial.com
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Company, Construction Management, Industrial, Investments, Landlord Representation, Lease, Sale

Crystal Finch Logistics, located at 7220 NE 47th Avenue in Vancouver, WA, has just hit the market. The project is expected to deliver in Q2 2023. This prime +/- 78,000 SF building with build-to-suit office.

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Company, Industrial
As of the end of Q2 2021, we're seeing construction costs reaching all-time highs, lease rates continuing to increase, and land prices climbing due to a lack of supply and an abundance of demand. 
 
With the rise of inflation due to federal COVID relief packages, landlords are considering signing new leases with annual increases tied to the Consumer Price Index (CPI) instead of the traditional 2-3% increase. 
 
Additionally, businesses are encountering a huge challenge with a lack of skilled labor. 
 
To learn more about the status of the Industrial Market, view our newsletter here. 
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Company, Industrial, Sale

Congratulations to Mike Hale and Scott Kappes for their recent sale of 2200 NE Andresen Road in Vancouver!

 

This 43,808 SF building fell out of contract at the heart of the pandemic but the team managed to find a strong buyer who orchestrated a seamless transaction.

 

Industrial and flex properties continue to be popular assets to invest in.

For more information, contact:

Mike Hale, Vice President – 503.517.7129 | mikehale@capacitycommercial.com

Scott Kappes, Principal – 503.517.9877 | scottk@capacitycommercial.com

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Company, Industrial, Office

Every quarter, Capacity Commercial Group conducts an in-depth analysis of recent market data for the Portland area, and provides a summary report to clients via newsletter.

Continue reading this blog post for an overview of the report including Portland Industrial Market: 2018 Third Quarter Key Statistics; Average Asking Lease Rates In Portland Area Market; Average Asking Sale Rates In Portland Area Market; and Capacity Commercial Group Overview.

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