Capstone Partners LLC and its joint venture partner PCCP, LLC announced it has signed a 122,749-square-foot lease with EYELEVEL, for its PDX Logistics Center
Phase III Building 5 scheduled to be completed in February 2018. EYELEVEL, a Portland resident since 2007, will be relocating its distribution center (currently located in three buildings on Swan Island) to PDX Logistics Center by April 1, 2018.
PDX Logistics Center Phase III is a two building development in the final phase of Capstone’s
1,103,547-square-foot state-of-the art logistics park located in Portland International Center and ground leased from the Port of Portland.
Building 4 is a 134,398-square-foot, 26’ clear height facility and Building 5 is a 122,749-square-foot, 32’ clear height facility. Both buildings incorporate state-of-the-art features including super flat floors, early suppression fast response sprinklers (ESFR), deep truck courts and energy-efficient features including T-5 lighting, insulated exterior walls and TPO roof system. EYELEVEL will join Anixter which has leased 35,632 square feet in Building 4. The two leases bring the project to 62 percent pre-leased.
“We are excited to welcome EYELEVEL in their relocation to PDX Logistics Center Phase III.
EYELEVEL is an international company that designs and manufactures retail experiences for global brands. This facility will be home to their DC and logistics teams. We are pleased they have selected our development for this important expansion of their Portland footprint,” said Chris Nelson, principal of Capstone Partners LLC.
“Our Swan Island facilities have served us well over the last 10 years, but we’ve worked hard to outgrow those; we’re thrilled and ready for what’s next at our new location,” said Michael Bradley, managing director of EYELEVEL.
“As we continue to produce, assemble, inventory and distribute worldwide from Portland, it’s important that we have the infrastructure to support our clients’ needs, and above all, provide well-designed and thoughtful workplaces for our employees,” said Operations Director, Joseph Wenz.
The project was designed by Mackenzie and constructed by PERLO Construction both of
Portland. Paul Breuer, Jerry Matson and Brian Yoakum of Colliers International are the PDX
Logistics Center Phase II leasing agents and Peter Stalick of Kidder Mathews represented
EYELEVEL in the transaction.
About EYELEVEL
EYELEVEL, an InnerWorkings Company (INWK), does more than create beautiful retail environments; the focus lies in developing long-term partnerships with leading global brands to deliver inspiring experiences across every channel: retail environments, brand marketing activation and digital. Driven by a core set of values and innate design-thinking methodology, EYELEVEL’s high-performance teams are dedicated to exceeding expectations at all levels of client service and delivering tailored brand experiences across geographies. With 14 offices in 12 countries, EYELEVEL thrives off its worldwide experience and talent to dream big so clients can dream bigger.
About Capstone Partners LLC
Capstone Partners is a regional real estate development and investment company with offices in Portland and Seattle. Capstone has completed over $1 billion of office, multi-family residential, industrial and retail projects representing over 5.3 million square feet in the last 15 years. For more information, please visit www.capstone-partners.com.
About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Sacramento and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. PCCP has invested more than $6.5 billion throughout the
United States and continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.
About the Port of Portland
Established in 1891 by the Oregon Legislature, the Port of Portland today owns three airports
(Portland International, Hillsboro and Troutdale) four marine terminals and five business parks.
The mission of the Port is to enhance the region’s economy and quality of life by providing efficient cargo and air passenger access to national and global markets, and by promoting industrial development. The most recent economic impact study shows that the Port generated
27,000 jobs, $1.8 billion in wages, salaries and consumption impacts and nearly $172 million in state and local taxes in 2015.
The Port’s industrial land portfolio includes five business parks and over 4,400 acres of land.
Current developments include two Amazon sort facilities, one in the Rivergate Industrial District and the other at the former brownfield redevelopment by the Port, Troutdale Reynolds Industrial Park. An additional 1.2 million square feet of industrial space is nearing completion at the Gresham Vista Industrial Park. Directly adjacent to the Portland International Airport is the Portland International Center, home to the PDX Logistics Center, a three phase 1.1 million-square-foot industrial development by Capstone Partners.