CascadeStation Prepped for Preleasing

PORTLAND-The tree-lined main street, the wide sidewalks, the grassy park blocks, the benches, water fountains and daffodils–it’s all there, ready and waiting to be flanked by buildings and filled with people. This is the current state of CascadeStation, 120 acres being described as the only development opportunity in the country offering direct access to two interstate highways, a light rail line and an international airport.

The lead developers, Bechtel and Trammell Crow, expect that to change real soon, however. MBK Northwest has tied up 40 acres and is deep in negotiations with prospective tenants for the retail and entertainment portion of the project, planned as 380,000-sf of restaurants and retailers pushed right up to the sidewalks and parking tucked behind the buildings.

MBK chief Mason Frank tells GlobeSt.com that despite the economic slowdown negotiations are underway with the likes of REI, Nordstrom Rack, Linens & Things, Bon Home Store, Ethan Allen, Pier One, as well as a major electronics retailer and a national bookstore. The plan is to prelease a significant portion of the project, secure financing, close the land deal with Bechtel and break ground this fall, says Frank.