North of downtown, Troutdale's fast-churning industrial sector just got a new neighbor.
The Port of Portland has sold 19 acres in the Troutdale Reynolds Industrial Park (TRIP) to Clayco Realty Group (CRG), which plans to build a 344,000-square-foot facility suitable for up to four manufacturing or distribution companies.
CRG paid about $5.2 million for the land, a Port spokeswoman said in an interview. The building has been labeled speculative development, which means CRG will break ground first without locking in tenants.
"This investment is another example of TRIP's evolution from a brownfield site into a thriving job center," Keith Leavitt, the Port's chief commercial officer, said in a statement. "We expect this development to follow suit in attracting nationally known companies that will bring quality jobs to our region."
CRG is a relative newcomer in the region, though its previous clientele in the midwest and eastern seaboard include household names like Pfizer, Amazon and Walgreens. Its parent company reported more than $1 billion in revenue in 2016.
Brittany Burke, CRG's communications director, said the relative lack of vacant land in the metro area — plus the presence of established brands like FedEx and Amazon.com — made a berth in Troutdale highly desirable.
"The dynamic Pacific Northwest market is an ideal location for international and national distribution," Burke wrote in an email. "The area offers immediate access to the Port of Portland, the region's interstate highway system, Union Pacific rail line, the Troutdale and Portland International Airport(s)."
In February, Amazon confirmed its plans to build a robotic fulfillment center on 74 acres in the industrial park, which should require at least 1,500 full-time workers when the warehouse comes online.
FedEx Ground already employs about 1,000 at a distribution hub, and has reserved an additional 34 acres in TRIP in case the courier delivery service wants to expand.
"We hope to attract today's top modern industrial-fulfillment users looking for logistics space," CRG's Burke continued. "The state-of-the-art facility will also feature office space when it's complete."
Once the site of a World War II-era Reynolds Aluminum plant, the land north of Troutdale Airport was largely written off as a polluted wasteland in the 1990s and early 2000s. Though it hasn't yet shed its federal Superfund clean-up site designation, the 700-acre site has been producing jobs and taxable revenue since 2010. The regional port authority purchased the land in 2007.
The Port of Portland and its partners have invested more than $130 million into the industrial park and an adjacent 90-acre wetland where development is off limits, according to a news release.