Katelyn Baker
Well-Known Member
A group of Eugene businessmen hope to start building a large west Eugene warehouse complex this summer, betting that a flood of investment in local warehouses by marijuana growers is squeezing out other users.
Brent Lanz, owner of Lanz Cabinets, and officials with contractor Ordell Construction want to build five warehouses with more than 83,000 square feet of space on South Bertlesen Road near West 13th Avenue, according to recently filed documents with Eugene's Planning and Development Department.
The project appears to be the largest speculative industrial real estate development – a building constructed before tenants are found – in Eugene in several years, according to a review of building permits issued by the city.
Mark Stolle, Ordell Construction's general manager, said he, Lanz and Ordell chief field operations manager Robert Stolle were investing on the project. A limited liability company called Parkway West LLC, using the Lanz Cabinets showroom as its address, bought the vacant 4.8-acre parcel in April for $350,000.
"We're hoping to break ground in June with at least two of the buildings," Stolle said. "There's such a big demand for warehouse space in Eugene."
He said the supply of warehouse space has plummeted in Eugene since recreational marijuana was legalized statewide two years ago.
Numerous commercial-scale marijuana producers and processors have been approved by the state to operate around Eugene and Springfield, many of them in older industrial buildings along Bertelsen Road and Danebo Avenue in west Eugene.
"They've gobbled up about three million square feet" of industrial space around the region, Stolle said.
Two of the warehouse buildings would 11,000 square feet, and the remaining three would be between 22,000 and 24,000 square feet.
They don't plan to lease to marijuana-related businesses, Stolle said, since the project will be financed with a federally insured bank loan, and marijuana is still illegal under federal law.
He declined to say how much they were investing in the project.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Local Businessmen Planning West Eugene Warehouse Complex, As Large Marijuana Growers Tighten Supply Of Industrial Real Estate
Author: Elon Glucklich
Contact: The Register-Guard
Photo Credit: Tom Penix
Website: The Register-Guard
Brent Lanz, owner of Lanz Cabinets, and officials with contractor Ordell Construction want to build five warehouses with more than 83,000 square feet of space on South Bertlesen Road near West 13th Avenue, according to recently filed documents with Eugene's Planning and Development Department.
The project appears to be the largest speculative industrial real estate development – a building constructed before tenants are found – in Eugene in several years, according to a review of building permits issued by the city.
Mark Stolle, Ordell Construction's general manager, said he, Lanz and Ordell chief field operations manager Robert Stolle were investing on the project. A limited liability company called Parkway West LLC, using the Lanz Cabinets showroom as its address, bought the vacant 4.8-acre parcel in April for $350,000.
"We're hoping to break ground in June with at least two of the buildings," Stolle said. "There's such a big demand for warehouse space in Eugene."
He said the supply of warehouse space has plummeted in Eugene since recreational marijuana was legalized statewide two years ago.
Numerous commercial-scale marijuana producers and processors have been approved by the state to operate around Eugene and Springfield, many of them in older industrial buildings along Bertelsen Road and Danebo Avenue in west Eugene.
"They've gobbled up about three million square feet" of industrial space around the region, Stolle said.
Two of the warehouse buildings would 11,000 square feet, and the remaining three would be between 22,000 and 24,000 square feet.
They don't plan to lease to marijuana-related businesses, Stolle said, since the project will be financed with a federally insured bank loan, and marijuana is still illegal under federal law.
He declined to say how much they were investing in the project.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Local Businessmen Planning West Eugene Warehouse Complex, As Large Marijuana Growers Tighten Supply Of Industrial Real Estate
Author: Elon Glucklich
Contact: The Register-Guard
Photo Credit: Tom Penix
Website: The Register-Guard
