SCS USA is expanding into Airport Park West, located at 8727 NE Marx Drive. SCS has another warehouse facility located at 9631 NE Colfax Street. Airport Park is a 250,000 square foot industrial park with seven buildings that is owned by First Industrial Realty Trust, which acquired it in 1998 as part of a $44.5-million, 900,000-sf acquisition from Portlander Dennis Sivers. The lease brings the park to 100% occupied.
Made in Oregon is also expanding operations, but information on its existing industrial leaseholds was not immediately available. Riverside Industrial Park, located at 13625 NE Jarrett St., is owned by Stephen and Angie Ostling and is a two-building, 130,000 square foot industrial park. The lease brings the park to 90% occupied. Negotiated rent for shell space at both locations is around $0.30 per sf per month.
Tom Talbot and Steve Barragar of Grubb & Ellis represented the building owner in both transactions. Barragar tells GlobeSt.com that given the current lack of activity in the industrial sector, these leases are significant. As well, other local sources say the leases are another example of how most activity as of late has been related to basic consumer goods.
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