Bridge Enters into Portland Market
Bridge Development Partners, LLC announced its first acquisition in the Portland, Oregon market, with the purchase of a 35-acre land parcel located at 775 NE Columbia Boulevard.
Bridge plans to construct two new best-in-class industrial buildings at the site, which will be called Bridge Point I-5 – Portland. The first building will comprise of approximately 425,000 square feet, and the second will comprise of approximately 225,000 square feet. During the due diligence period, Bridge worked through environmental concerns of the former landfill site—a complex process involving environmental, land, and zoning use issues—in less than 90 days.
“Located on what was a complicated but exceptionally well-located site just outside of Portland’s central business district, this project is ideally aligned with Bridge’s core competencies, and it presented us with the perfect opportunity to break into this new market,” said Justin Carlucci, partner, Northwest Region at Bridge Development. “Additionally, the site’s heavy industrial zoning-coupled with the surplus of parking that it will offer-enables use by a variety of distribution tenant types with a wide range of size requirements.”