Trammell Crow Company and CBRE Announce Completion and Sale of 200K-Square-Foot Industrial Building in Oregon
December 17, 2021
Recently Completed Hitachi High-Tech America Hillsboro Facility Acquired by Principal Real Estate Investors
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers, and CBRE, Inc. have announced the substantial completion and subsequent sale of a 195,546-square-foot industrial building in Hillsboro, Ore. developed by TCC. The building was acquired by Principal Real Estate Investors and is fully leased to Hitachi High-Tech America, Inc. (HTA), an affiliate company that operates within the Hitachi Group Companies to sell and service semiconductor manufacturing equipment, analytical instrumentation, scientific instruments, and bio-related products, as well as industrial equipment, electronic devices, and electronic and industrial materials.
Located at 3600 NE Huffman Street, the facility is identified as the Hitachi Center of Excellence in Portland (CEP) and is focused on semiconductor engineering. The tenant program included unique specifications implemented in the design and construction process to meet the specialized requirements of the facility. HTA plans to be fully operational at the new facility in 2023.
“The HTA facility was designed to IBC Risk Category IV, which is used in buildings that are considered essential to the operator’s needs and who want limited down time after a code-level event, such as an earthquake – this was a fundamental requirement of the tenant program and driven by their focus on customer service,” said Steve Sieber, a principal with TCC’s Portland team.
The 18-acre site offers additional land that can accommodate an expansion of 100,000 to 130,000 square feet.
Steve Wells, Senior Managing Director of TCC Portland continued, “We designed the facility with multiple uses in mind, ensuring that it was built for the long-term. The footings on the east side of the building are designed at future loading-dock elevation and the tilt-panels are longer to accommodate conversion to a future loading dock. Window openings were also designed and sized for direct conversion to dock doors, and panels without windows have knockouts for future dock doors.”
Paige Morgan, Charles Saﬂey, Tom Pehl, Lou Senini and Chais Lowell of CBRE represented TCC in the sale of the asset. In its lease, HTA was represented by Kristin Hammond and David Saad of CBRE.
“The Hitachi CEP in Hillsboro represents a premier development site for HTA’s mission-critical semiconductor equipment and technology initiatives,” said CBRE’s Morgan. “This asset provides a long-term, stable income stream to the new owner.”
The property is located within the Hillsboro Technology Park district, a subset of the North Hillsboro Industrial Renewal Area, which includes 700 acres of vacant land that is zoned or otherwise designated for industrial development. Targeted uses identified for this area include high tech, clean tech, and advanced manufacturing, with a focus on companies with large lot (50 acres or more) requirements. The site is located approximately 16 miles west of Downtown Portland.
Mildren Design Group served as the project’s architect, and Perlo Construction was the General Contractor. David Etchart of CBRE Project Management led the tenant project management team, and Lauren Peng of CBRE Property Management acted as the property manager on behalf of the landlord.
About Principal Real Estate InvestorsPrincipal Real Estate Investors manages or sub-advises $98.4 billion in commercial real estate assets (as of September 30, 2021). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.