Portland-area DC complex signs two new leases
Atlanta-based wood products giant Georgia-Pacific LLC has signed a short-term lease for slightly more than 225,000 square feet of warehouse space near the Port of Portland.
Financial details of the transactions were not released, though going rates for the Marine Drive Distribution Center complex would indicate a range of $70,000 to $150,000 per year.
The space, the majority of which is being leased on a six-month basis, will be used by GP to handle excess inventory from its other Oregon plants.
A wholly owned subsidiary of Wichita, Kan.-based Koch Industries Inc., GP has more than 400 wood product producing facilities, including 17 in Oregon.
In a separate transaction, Canadian publications distributor Quebecor World Logistics Inc. signed a lease for 53,000 square feet in the Marine Drive complex.
Financial details were not released but current rates for the Marine Drive center would suggest a lease rate of about $16,000 to $34,000 per year.
Based in Montreal, Quebecor is the world’s largest distributor of catalogs, publications and newspaper inserts.