June 22, 2022
TypeDeal, Press Release
Real estate operator and investment manager plans 646,274-SF industrial warehouse with prime access to I-205 for big-box tenants
PORTLAND, Ore. (June 22, 2022) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced today the acquisition of a 76.96-acre site, located at 5500 Northeast 162nd Avenue in Vancouver, Wash., to be the future Bridge Point Vancouver 600.
Bridge acquired the site, ideally located in the Portland submarket, from private sellers. Bridge expects to break ground on the project in late Q3 of this year. Upon completion, Bridge Point Vancouver 600 will total 646,274 square feet and feature 40-foot clear heights; 110 docks; eight drive-in doors; 413 parking stalls; and 166 trailer stalls.
Bridge will also contribute to the installation of additional infrastructure in the neighborhood surrounding the site — including additional roads, improving 59th street, a sewer main connection, and a signalized intersection.
“We’re looking forward to delivering this modern, state-of-the-art logistics facility adjacent to a growing population base with direct access to the expressway as well as main arterials — to meet the continued demand for industrial product in the Pacific Northwest,” said Justin Carlucci, Partner, Northwest Region at Bridge.
Bridge Point Vancouver 600 is strategically located just 12 miles from Downtown Portland, three miles from WA-500, four miles to I-205, and just 12 miles to Portland International Airport and the Port of Vancouver. The site’s proximity to I-205 also affords future tenants direct access to I-5 as well as Highway 84, and its location within the state of Washington provides tax benefits for both tenants and their employees alike.
Zach Francis and Karla Hansen of Kidder Matthews represented Bridge in the transaction, while the sellers were represented by Matt Lyman and Greg Nesting of North Stevens. Both teams will serve as leasing agents for the project.
Since first opening its Seattle office in 2018, Bridge has leased approximately 2 million square feet of space to top-tier tenants and has acquired land to develop and/or completed development on over 7 million square feet of Class A industrial product throughout the Northwest Region. Bridge continues to seek opportunities to develop modern industrial facilities in the most supply-constrained core infill industrial markets.