Port Of Portland Sells Acreage To Clayco For Spec Development
The Port of Portland sold nearly 19 acres at the Troutdale Reynolds Industrial Park to CRG, Clayco's real estate development group, for more than $5.4M. The developer plans a 344K SF spec industrial facility on the site, according to American Shipper. The facility will be able to accommodate as many as four industrial users for either distribution or manufacturing.
CRG is new to the Portland market. Nationwide its clients include such heavy-hitters as Amazon, Pfizer and Walgreens.
In February, the port sold 74 acres at the park, which is a 700-acre brownfield redevelopment adjacent to the Troutdale Airport, to Amazon for a major fulfillment center. The park is home to a regional FedEx Gound hub.
The Port of Portland bought the site of the Troutdale Reynolds Industrial Park about 10 years ago. Since then, it has seen more than $130M in acquisitions and redevelopment.