Portland General Electric is one of the largest and most diversified utilities in the Western United States. Now serving Oregon for 125 years, and with close to $2 billion in sales and 800,000 customers, they have power generating capacity over 4000 megawatts and are a utility with one of the highest percentages of renewable power in it’s portfolio.
Over the last 10 years, PGE has been revamping their service areas and facilities to better coordinate their service capabilities and resources to better serve its customers. Todd and Cascade Commercial represented them in one of their larger facility acquisitions with the purchase of a 10 acre site with a 40,000 sf warehouse in Tualatin, Oregon. This assignment required the review of over a dozen properties throughout the southern metro area, resulting in the targeting of a perfect accessible site that gave PGE the opportunity to design and build a 30,000 sf state-of-the-art office and service center. The property was bought under market from Coca Cola Enterprises, who was relocating operations, which helped PGE invest over $10 million into the project.
“Todd was extremely helpful in locating this site and opportunity. He really understood our needs and thus presented us with multiple options, but this site owned by Coca Cola had everything we needed. He was instrumental in assisting us in our due diligence reviews of the site, which was not easy as we had a short time frame of 90 days to close the deal. It was a good transaction for all parties,” said Mike Livingston, senior property manager for PGE.