Colliers has completed the lease-up of Burnt Creek Logistics Center, a 681,780-square-foot industrial facility in Vancouver, Washington. The long-term transaction, valued at over $51 million, represents the largest speculative industrial building lease-up in the history of the Portland metropolitan area, with the entire building leased to an undisclosed national grocer tenant.
Serving as representatives for the landlord and ownership, Panattoni Development Company and LaSalle Investment Management, the Colliers team of Jerry Matson, Brian Yoakum and Tom Knecht brokered the initial land sale, oversaw the ground-up development, and secured the tenant to complete the lease-up.
“The Burnt Creek Logistics Center has served as a much-needed bellwether for Southwest Washington as a logistics hub, and securing a national retailer for the full building lease underscores the strength of the market and the demand for high-quality, Big Box industrial space,” said Matson.
Located on 38.89 acres, Burnt Creek Logistics Center has a 40-foot clear height and 128 dock-high doors. It is the largest speculative industrial building ever constructed in the Portland metropolitan area.
