Trammell Crow begins work on five industrial buildings in Sherwood
Contractors have begun grading the future site of five new buildings that will be constructed by developer Trammell Crow on the southwest corner of Southwest Tualatin-Sherwood Road and 124th Avenue.
The project, which will be known as the T-S Corporate Park, will consist of a total of 535,000 square feet placed on a 46-acre parcel of industrial land, according to Sherwood city officials.
"We're just really excited that Trammell Crow has selected Sherwood and proceeded with this project, very proactively," said Sherwood economic development manager Bruce Coleman. "We have not seen any kind of a slowdown in terms of industrial growth in this city during this COVID-19 period. There's clearly a demand for new industrial (land)."
This will be the first construction project in the Tonquin Employment Area, a 300-acre parcel of land located on the east side of the 124th Avenue extension, south of Tualatin-Sherwood Road. The property was annexed into the city by Sherwood voters in 2012.
Tualatin is on the west side of the 124th Avenue extension. That's where Portland General Electric is in the process of building a 108,000-square-foot disaster-proof operations center directly across the street from the Trammell Crow project.
It's unclear yet what businesses will occupy the T-S Corporate Park once it is complete.
"The five buildings they're building are, in fact, for industrial users," Coleman said of the project. "Could be manufacturers. Could be really any kind of industrial."
The project, the largest industrial land project in Sherwood in recent history, is expected to be complete by the second half of 2021.
"We've certainly gotten the word out that this property is out there and it's being developed," said Coleman, pointing out he's informed both Greater Portland Inc., which gives support and services to companies hoping to locate or expand in the Portland area and Business Oregon, the state's economic development agency.
"Clearly, it is a key project for the development of jobs in this community for a more diversified tax base for this community," Coleman remarked.
He said the Trammell Crow project isn't the only interest in industrial construction the city is seeing.
Phelan Development, a California-based company, is nearing completion of three new industrial buildings on a 12-acre site on the north side of Southwest Tualatin-Sherwood Road, between Cipole Road and Wildrose Place. Those buildings, built on speculation as to who will occupy them, will sit on a total of 235,875 square feet of property.
Meanwhile, two developers have expressed interest in building along Oregon Street in Sherwood. One is looking at as much as 60 acres of land that could cover an estimated 1 million square feet of new industrial space in several buildings.
"It's still early," Coleman said of those plans. "It's still in the due-diligence process."
At the same time, he said a large Southern California developer has shown interest in building on the northeast corner of Southwest Tonquin Road and Oregon Street.
Coleman said the interest in Sherwood by developers shows that the city has both the land and is very pro-business when it comes to this type of development.
"We're working to encourage these things to happen," he said.
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