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Port of Portland Unloads 66 Acres For Industrial Development

Portland
Port of Portland Unloads 66 Acres For Industrial Development

The Port of Portland sold off 66 acres of prime development property after commissioners approved the sale last week. Trammell Crow snatched up almost 29 acres for $7.8M, and Specht Development purchased another 37 acres for $9.3M. The two likely will use the space for large industrial projects, catering to a variety of end users, the Portland Business Journal reports. The Port, which lost its last remaining container shipping company last month, sold the property to spur job creation in the area. The Portland area has a lack of industrial options, creating an opportunity in that space already seized upon by companies such as Majestic Realty with its Brookwood Business Park in Hillsboro. [PBJ]