Tualatin development offers ready-to-occupy industrial buildings to

Herman Road LLC, an entity affiliated with Specht Development Inc., is offering ready-to-occupy industrial buildings for businesses looking to own their own real estate.

The property, located in the Tualatin Industrial Center, is being constructed near the corner of Herman and Teton roads in Tualatin with immediate access to Interstate 5, state Highway 99W and Boones Ferry Road.

SFP Herman Road purchased two parcels totaling 4.98 acres that make up the project in 2004 and is constructing six buildings on the site that's zoned for general manufacturing use. The project's completed value is $8 million, according to the company.

Construction of all the buildings will be complete in early 2006. Four buildings are under contract to buyers who are interested in owning their own business properties.

This area suffers from a severe lack of smaller properties for general industrial use, built and ready for ownership by Portland- area businesses, said Gregory Specht, president of Specht Development. This development meets that need in the Tualatin area.

Specht said he believes there is a growing trend in which businesses want to own rather than rent their real estate. The favorable financing climate, for example, makes buying a property feasible and, in many cases, more attractive than renting, he said.

We envision business owners being able to own their business, grow that business, eventually sell it and still retain ownership of their buildings to provide a cash flow into retirement, said Specht.

The project designer is Mildren Design Group of Tigard, and the general contractor is Perlo McCormack Pacific of Portland. The structures are concrete tilt buildings, each with at least one dock and one grade door. The first building will be complete in December, and the last will be complete in early February 2006.

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