Logistics Leases Driving Portland Industrial Market
Logistics companies want to be in the Portland market, which is good news for the local industrial sector, according to JLL's Tyler Sheils.
Strong demographic growth over the last two years and growth in Portland’s tech sector have made it vital for logistics companies to have more of a presence in this market, Tyler says. “The good news is it’s a trend that is only likely to deepen as Portland continues to grow."
Recently Tyler, along with colleagues Kevin Kriesien and Michael Hale, repped the landlord in the 210k SF lease at 22638 NE Townsend Way in Fairview to global engineering and logistics firm CTDI.
So far this year, according to JLL research, 13 leases have been signed in metro Portland for industrial spaces over 100k SF. The CTDI lease is surpassed in size this year only by the lease by UPS of 234k SF at the PDX Logistics Center (Building 3) and the leasing of 303k SF at the Majestic Brookwood Business Park (Building 3) by Amazon.
Built in 2007, 22638 NE Townsend Way is a Class-A distribution facility. CTDI, based in Pennsylvania, will be occupying the entire facility.
