Panattoni Ties Up Remaining 15 Acres of Art Spada's Riverfront Industrial Land

PORTLAND-Panattoni Development is continuing its Portland land grab. The Sacramento-based company has tied up the remaining 15 acres of Art Spada’s 60-acre riverfront parcel on the northeastern edge of the city, confirms Ossey-Patterson Co.’s Don Ossey, who is handling the property disposition for Spada.

Panattoni’s Mike Wells tied up the first 45 acres in late January after receiving a commitment for a 250,000-sf build-to-suit for an unnamed assembly-manufacturing-distribution operation that would occupy a portion of the site. With all 60-acres now tied up and closings scheduled for May and June, Panattoni is renaming the property Riverside Parkway Corporate Center and planning a million-sf development.

“We’ve seen a lot of interest in the property since we began working on it, which made me more confident of the marketplace receiving this project very well,” Wells tells GlobeSt. “That’s why we proceeded on the phase two acquisition on the ‘Spada North’ property.”