Development company buys 10 acres of industrial land
Vancouver-based real estate development company KMR Limited Partnership-4700 LLC bought five lots totaling 10.14 acres at Minnehaha Business Park, located at the Minnehaha Street and Northeast 47th Avenue, for $2.28 million.
The partnership, which includes Nutrition Now President Martin Rifkin, bought the land at the fully improved industrial business park from Erickson Properties LLC of Vancouver.
KMR plans to develop five buildings ranging from 6,000 square feet to 41,000 square feet each, for a total of about 150,000 square feet at Minnehaha.
Rifkin expects his company to occupy some of the space, possibly using some as a new distribution center.
The first phase of construction is expected to start in 2009.
In all, KMR owns about 200,000 square feet in multiple industrial buildings in Vancouver, Rifkin said.
Wacom expansion nears completion
Construction is scheduled to wrap up in September on the expansion of Wacom, a Vancouver high tech company known for its graphic tablets and computer-and-pen systems.
The project includes the addition of a 24,000-square-foot building, which is connected to the existing 13,000-square-foot office structure and is intended to serve as a warehouse and office space.
Sanska USA Building Inc., which is based in New Jersey, is the general contractor.
Dates for Riverwalk arbitration scheduled
An arbitration hearing between the Port of Camas-Washougal and RiverWalk on the Columbia LLC will be held in closed sessions Dec. 1 to 5 in Vancouver.
The port entered into a public-private partnership with RiverWalk in November 2005 to explore the feasibility of developing 65 acres of waterfront property at the port. The partnership’s option agreement expired in November 2007 with allegedly unfulfilled contingencies, such as a master development agreement and a fully negotiated, long-term lease, according to the port.
Supplement company preleases industrial space
Vancouver-based Pacific Nutritional Inc. has preleased 55,800 square feet at Sifton Industrial Park, which is now under construction at 6317 N.E. 131st Ave. in Vancouver. The 74,500-square-foot first building at Sifton Industrial Park is one of the few new speculative industrial projects in Southwest Washington.
Pacific Nutritional manufactures dietary supplements. Garret Harper of NAI Norris, Beggs & Simpson handled the lease transaction.
