SUBMITTED NEWS RELEASE
PORTLAND, Oregon — When Dermody Properties – the parent company of DP Partners – and the Portland Development Commission (PDC) collaborated to develop a 265,000 square foot industrial project in Portland, they did so with the belief that “if we build it, employers will come.” Now that the final 45,000 square foot unit in the building is leased by Dermody Properties’ newest client, BWGS (Bloomington Wholesale Garden Supply), that vision is fully realized. This project contributed to Dermody Properties’ recent ranking as the second largest developer in the Portland area by the Portland Business Journal.
BWGS, which offers a wide array of innovative and earth-friendly products for indoor and outdoor gardening, joins Dermody Properties’ other customers in the building, including LaCrosse Footwear/Danner Boots, Vistar Corporation/PFG, and Samuel, Son & Company. The large, multi-tenant industrial project, known as the LogistiCenter at Portal Way and located at 18201 NE Portal Way, is now fully occupied. Dermody Properties has completed the office, electrical, and mechanical improvements for BWGS, which will use the facility as its northwestern regional office and product distribution center. BWGS is a new business to Oregon.
“Each company operating in the facility represents a recent business expansion, and collectively they employ approximately 435 associates resulting in a significant economic impact to the region,” said Kirk Olsen, the Northwestern Regional Partner for Dermody Properties. “BWGS is an excellent company which rounds out the top-notch roster of other businesses in the project.”
“We are very pleased to be entering the Portland business community and bringing new jobs to the region,” said Claude Eastridge, Vice President of Operations of BWGS. “This expansion is part of our company’s strategic focus to be able to distribute our wide range of products efficiently to our customers in the northwest.”
“PDC chose to partner with Dermody Properties based on its experience working with public partners, its history of developing Class A projects throughout the nation, and its record of attracting high quality companies to its parks,” said Bruce Allen, Senior Development Manager at PDC.
The representative for BWGS was Gary Randles of Cushman & Wakefield of Portland. Representing Dermody Properties were Tony Reser and Tom Talbot of Kidder Mathews.
“We applaud our Northwestern Regional Office for successfully leasing our LogistiCourt at Portal Way to extraordinary companies which are fully invested not only in the project, but also in the community,” said Michael Dermody, CEO and Chairman of Dermody Properties. “We firmly believe that collaborating with economic development professionals to develop industrial projects creates opportunities that benefit entire regions.”
About Dermody Properties
Dermody Properties, parent company of DP Partners, is a privately held national industrial real estate development company. Founded and headquartered in Reno, Nev., it has regional offices in Portland, Ore., Philadelphia, Penn., and Chicago, Ill., as well as property holdings in Las Vegas, Nev., Harrisburg, Penn., Savannah, Ga., and southern New Jersey. Over the last three years, Dermody Properties has developed and purchased more than 5.2 million square feet and leased between 1 and 1.5 million square feet annually. Over its 50-year history, the company has developed and leased more than 35 million square feet of high quality industrial/distribution facilities to many Fortune 500 companies and other well respected firms. Dermody Properties currently has more than 3.5 million square feet of industrial space that is 90 percent occupied, and is actively doing Build-to-Suits and joint ventures throughout the nation. To learn more about Dermody Properties visit Dermody.com.