X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHOUGAL, WA-A Portland entrepreneur has optioned seven acres in the Port of Camas-Washougal’s industrial park for six months. Port director Sheldon Tyler tells GlobeSt.com Fred Shirazi hopes to attract an energy company to build a natural gas-fired power plant.

The port accepted $14,175 for a six month option on the land, which Shirazi can extend another six months for the same fee. The option comes with the ability to convert to a 50-year lease. Payments on the lease would be $3,300 per month for the first three months and closer to $7,000 per month thereafter. Annual rent escalations would be tied to the consumer price index, with other adjustments possible following a market analysis ever tenth year.

The optioned property comes after much of the worry about energy prices has subsided, which in turn has slowed down an otherwise steady flow of power plant proposals throughout the Northwest. Shirazi didn’t return a call seeking comment Wednesday. “I think he’s got like four of these things going,” Tyler tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.