PacifiCorp Subleases Warehouse to Glass Company for 13 Years

The agreed upon lease rate was not immediately available. The asking rate for the space was $0.45 per sf per month, triple net. An unknown amount of free rent was included in the deal. The lease term begins Dec 1, 2001 and runs through July 2013. If the deal was done at an average of $0.45 per sf and included six months of free rent, All City would pay about $2 million over the life of the lease.

PacifiCorp says it's says it is consolidating some of its warehouse facilities and no longer needed this space. For All City Glass, which is vacating space at the Wilsonville Business Center, it represents a doubling of capacity. Michael Smith, Smith Properties, represented the company in the transaction. Dave Squire, Tom Talbot and Steve Barragar of Grubb & Ellis represented PacifiCorp.