Dermody Targets Vancouver’s Low Industrial Vacancies
- Feb 06, 2015
Dermody Properties broke ground on its latest venture, an industrial development in Vancouver, Wash. To be called LogistiCenter 205, it is situated on NE 60th Way.
The property is set for a July 2015 opening, and will feature the necessary conditions for tenants dealing with warehousing and distribution operations. Developer Dermody Properties has commissioned a Kidder Mathews team consisting of Tony Reser, Tom Talbot and Scott Murphy to market the property.
When completed, LogistiCenter 205 will be one of the few properties of its kind in the Clark County submarket. The facility will feature 30-foot clear heights, a 130-foot truck court and ESFR sprinkler systems. Its location offers immediate access to the I-205 corridor, a major Pacific Northwest distribution throughway. The property is being constructed by Perlo Construction of Portland, and the architect on the project is Mackenzie.
Phillip Wood, a partner with Dermody’s Northwest Region office, noted that “this market is a highly sought-after one, but lacks available, modern industrial facilities.” The average vacancy rate for Clark County industrial properties stood at 3.7 percent at the end of 2014, the lowest in quite a while. In general, vacancies in Vancouver and in Portland overall are at or near historic lows, according to Dermody President Douglas Kiersey Jr.
Rendering courtesy of dermody.com