“We’re very pleased to have this company investing in our community and expanding the employment base,” said Bruce Allen, Senior Development Manager for PDC.
Portland, OR (PRWEB) July 14, 2010
(PRWEB) July 14, 2010 -- Regional Public-Private Partnership Enables $35M Total Investment. The Portland office of commercial real estate development firm DP Partners, a member of Dermody Properties, and Morgan Distributing, LLC, celebrated the opening of Morgan’s new 10.7 acre, 105,000 square foot build-to-suit property in Portland in mid-June. The new building, constructed with DP’s LogistiCourtè design methodology, accommodates Morgan’s central operations, as well as warehousing and distribution of Anheuser-Busch and other products.
The Morgan development is part of a public-private partnership (PPP) between the Portland Development Commission (PDC) and DP Partners within the Airport Way Urban Renewal Area. Under the partnership, DP has generated $35M of real estate investment on 25 acres, attracting four high-quality employers that have created or retained 475 jobs. The construction of the Morgan headquarters also created more than 200 much-needed construction-industry jobs. “We’re very pleased to have this company investing in our community and expanding the employment base,” said Bruce Allen, Senior Development Manager for PDC. The Morgan facility is the only new industrial building that will be completed in Portland this year.
Kirk Olsen, DP’s Northwest Region Partner, describes DP as being in growth mode. “With the continued leasing success of our 265,000 SF speculative industrial facility, and the recent completion of the Morgan design-build project, DP is actively seeking additional development opportunities and we're growing our third-party property management business.”
An opening event on June 16 featured presentations about the history of the project, facility tours and an appearance by the world-famous Budweiser Clydesdales. More than 125 representatives from Portland’s real estate, financial and beverage industries attended. In line with its tradition of community giving, DP made a $5,000 donation at the event to the Boys and Girls Clubs of Portland. Morgan followed suit with a $5,000 gift to Emmanuel Children’s Hospital.
About DP Partners
Reno, Nevada-based DP Partners, a member of Dermody Properties, is a privately held, national commercial real estate firm, focused on the development of Class A industrial facilities, both build-to-suit and speculative. Founded in 1960, the key to DP’s long-term success is its partnership platform reflected by its significant relationships with corporate clients, municipalities, contractors, brokers and economic development agencies. The firm’s entrepreneurial approach provides fast-acting flexibility intended to satisfy their client’s requirements anywhere in the U.S.
DP Partners has recently expanded its platform to include third-party property management. Our national owner/developer mindset provides us a strong knowledge base and a unique insight into completing, maintaining or repositioning any commercial asset. To learn more about DP Partners, visit http://www.dermody.com or call Kirk L. Olsen, Partner, Northwestern Region at (800) 775-7483.