A four-building industrial complex its builders tout as Vancouver’s largest is now under construction on Northwest 32nd Avenue near Lower River Road.
The first phase of the Portside Industrial Park project could see two buildings with more than 350,000 square feet of space come online by the end of the year.
“It’s a big project,” said Stu Peterson with Macadam Forbes Commercial Real Estate Services in Portland, which is marketing the property. “Just about half of it is leased, actually prior to starting construction.”
A 160,000-square-foot space is already leased, while two 95,000-square-foot spaces are still available.
Perlo Construction — which is building the new Sunlight Supply headquarters at the Port of Vancouver’s largely vacant Centennial Industrial Park across the street — has broken ground on the project, which is on private land.
The first phase is expected to be complete in the fourth quarter of this year, according to a project fact sheet.
In all, 800,000 square feet of indoor space is planned over three phases on 43.5 acres. A 156,000-square-foot building is proposed to come online in the next year, while the final 300,000-square-foot structure does not yet have a timeline.
“Portside Industrial Park features a combination of building size, quality, flexibility and location unmatched in Vancouver with excellent access to regional air, freeway, rail,and marine systems,” according to the project’s promotional materials.
The going rate for the structures, which are in Vancouver’s light industrial zoning, is $0.48 per square foot for the shell and $0.85 per square foot of office space.
The buildings will be located between 2600 and 3210 N.W. Lower River Road south of Laframbois Road.