X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VANCOUVER, WA-Laclede Chain Manufacturing has signed a seven-year lease for 65,000 sf of industrial space at Schnitzer Investment Corp.’s Columbia Business Center in Vancouver, WA.

The firm, which among other things makes tire chains for Les Schwab, is relocating from a Pac-Trust-owned building on Northwest Yeon Avenue in Portland. One of the motivations for the move is to avoid Multnomah County’s corporate excise tax, according to Mark McClung, the Cushman & Wakefield broker who represented Laclede in its lease negotiations. McClung says that unlike Multnomah County’s tax, Washington’s business tax only taxes income from sales within the state and a significant portion of Laclede’s sales are not in Washington state. A source at Laclede did not return a phone call seeking comment.

McClung says Schnitzer shuffled some month-to-month tenants to make room for Laclede. He declined to reveal the specific lease rate on the transaction, but local brokers familiar with the deal say the rate starts at about $0.31 per sf per month with a $0.65 surcharge for about 3,000 sf of office space. Some free rent and a tenant improvement allowance was part of the deal.

Tucked between Highway 14 and the Columbia River, Columbia Business Center has 2.4 million sf in 26 buildings. The park’s leasing agent, Dave Brown of Columbia Commercial Properties did not return a phone call seeking the park’s occupancy rate. Columbia Commercial Properties’ Web site shows about 500,000 sf of availability in the park.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.