By Kate Snyder
A planned industrial development is up for sale or lease in Hillsboro. The Sewell Corporate Park, a 388,958 square foot new-construction project from Trammell Crow Company, is now on the market, according to a marketing brochure from Macadam Forbes, which has the listing. No asking sales price has been released, but the asking lease rate is in the high $0.90s per square foot per month. Macadam’s Clayton Madey is the broker for the development.
Located at 4915 NE Sewell Ave. and 4630 NW 273rd Ave., Sewell Corporate Park is located in the heart of Hillsboro’s technology corridor. There is flexibility in size and configuration depending on a user’s needs, according to the brochure. The 24-acre property site is in close proximity to nearby industries, including chip-makers, data centers and pharmaceutical companies. Occupancy is slated for the first quarter of 2025.
The first building is positioned on nine acres and anticipated to be 145,608 square feet with 160 vehicle parking stalls and 23 trailer stalls. Other features include 38 dock doors and four grade doors. The second structure, totaling 243,350 square feet, features 137 vehicle parking stalls and 30 trailer stalls, 44 dock doors and four grade doors. That building is situated on 15 acres.
Trammell Crow Company is one of the nation’s oldest and most prolific developers of commercial real estate. The company has developed or acquired 2,800 buildings valued at nearly $70 billion and consisting of more than 625 million square feet, according to the brochure. As of the second quarter of 2022, the firm had $19.3 billion of projects in process and $11.5 billion in its pipeline. It employs more than 550 professionals in the United States and United Kingdom. TCC is a wholly owned but independently operated subsidiary of CBRE Group, Inc., which is the world’s largest commercial real estate services and investment firm.
Since 2007, TCC has developed 72.4 million square feet of industrial logistics facilities. The company’s Portland office has developed 17 million square feet of build-to-suit projects totaling $1.8 billion in value, including the recently completed 219,000 square foot Hillsboro BTS developments for Hitachi High-Tech America and 270,000 square foot GXO Logistics warehouse serving Intel.