The incentive package is being provided by the City of Portland's housing, urban renewal and economic development agency, the Portland Development Commission. The PDC's Bob Alexander told GlobeSt.com that one of the loans will come from the PDC's Quality Jobs Program and the other from its Economic Opportunity Fund. The loans will be forgiven if the company meets certain wage and employment requirements, he said.

Currently located in a 55,000-sf space on the Gresham side of the park, LaCrosse late last year signed a 10-year lease for a 144,690-sf building that is under construction on the Portland side of the park. Scheduled for completion this summer, the space will serve as its headquarters and distribution center.

The going net rental rate for new industrial shell space in the area is in the mid $0.30s per sf per month. LaCrosse will be paying around that rate on 117,690 sf of warehouse-distribution space plus an estimated $0.70 per sf per month surcharge for 27,000 sf of mezzanine office space. Alexander says LaCrosse's total investment in the entire space over the life of the lease will be about $15.4 million, or $0.88 per sf.

Southshore Corporate Park was developed largely by San Francisco-based Catellus Development Corp., which was acquired by Denver-based ProLogis in a $5.5-billion transaction that closed in September. The LaCrosse deal soaks up another 7.9 acres, leaving 27 acres, or about 10% of the park, still to be sold off. Brokers Tony Reser and Tom Talbot of GVA Kidder Mathews have the marketing assignment for the Southshore Corporate Park.

LaCrosse Footwear develops footwear for work and outdoor users. The company's Danner and LaCrosse brands are used by people in law enforcement, agriculture, firefighting, construction, industry, military services and other occupations. The company is traded on Nasdaq.