TIGARD BUSINESS PARK
Tigard Business Park is a 8-building, 256,084 sf multi-tenant industrial center located in the Portland / Tigard, OR submarket with close proximity to Oregon Highway 217 & 99W as well as I-5.
8-building industrial business park
Close proximity to shops, retail, and amenities
TIGARD BUSINESS PARK
PORTLAND INDUSTRIAL MARKET
Portland, Oregon’s largest city, sits on the Columbia and Willamette rivers, in the shadow of snow-capped Mount Hood. It’s known for its parks, bridges and bicycle paths, as well as for its eco-friendliness and its microbreweries and coffeehouses. Iconic Washington Park encompasses sites from the formal Japanese Garden to Oregon Zoo and its railway. The city hosts thriving art, theater and music scenes. After years of built-to-suit projects dominating fundamentals, market development has made way for tenant expansion and growth with new speculative development options and projects under construction throughout the area. Though some fundamentals slowed in Q3 2019, location and neighborhoods remained the driving factor in time-to-lease with active tenants in the market willing to wait for prime space.
The Portland market is experiencing heavy demand from existing and new to market institutional investors looking for existing buildings and developable land sites. This is due in part to higher yield cap rates of roughly 4.5%-5.25% compared to other markets along the west coast such as Southern California’s sub 4%. There is the expectation that there will be more off market offers for larger projects. Meanwhile demand remains strong across all industrial products in the 50,000 sf to 150,000 sf range. In addition, there is the likelihood that several leases will be signed in the fourth quarter of 2019 and into the first quarter of 2020 in the 100,000 sf to 350,000 sf range. The outlying suburbs, from Vancouver to Tualatin to the East Columbia Corridor have become particularly attractive to tenants in the market.
Tigard is situated in Washington County, Oregon, United States. The population was 48,035 at the 2010 census. As of 2007, Tigard was the state's 12th largest city. Incorporated in 1961, the city is located south of Beaverton and north of Tualatin, and is part of the Portland metropolitan area. Interstate 5 and Oregon Route 217 are the main freeways in the city, with Oregon Route 99W and Oregon Route 210 serving as other major highways. Public transit service is provided by TriMet, via several bus routes and the WES Commuter Rail line. The economy of Tigard, OR employs 27.2k people. The largest industries in Tigard, OR are Health Care & Social Assistance (3,485 people), Manufacturing (3,462 people), and Retail Trade (3,396 people), and the highest paying industries are Utilities ($112,941), Public Administration ($74,714), and Finance & Insurance ($69,792).Median household income in Tigard, OR is $70,120. Males in Tigard, OR have an average income that is 1.29 times higher than the average income of females, which is $48,053. The income inequality in Tigard, OR (measured using the Gini index) is 0.469, which is lower than than the national average..