Port of Portland demonstrates purposeful industrial land development 

The Port of Portland announced the sale of a development site at Gresham Vista Business Park (GVBP) to GV5 LLC, a partnership between locally owned companies Specht Development and Colas Development Group. This transaction, which includes a collaboration with the City of Gresham, was guided by a shared vision of fostering sustainable growth and creating more economic opportunity in the region.  

Keith Leavitt, Chief Trade and Economic Development Officer at the Port of Portland said, “This strategic partnership at a prime development site will create quality jobs and support locally owned small businesses. Together, we will contribute to the economic vibrancy of East Multnomah County and hope to be a blueprint for taking a purpose-driven approach to economic development." 

The project was driven by the Port’s commitment to enhance the region’s well-being and increase economic opportunity through quality jobs and small business support. The Request for Qualifications (RFQ) for site development and the resulting Master Development Agreement entered into in 2020 reflect the Port’s commitment to inclusive growth that benefits the entire community: While the RFQ highlighted the Port’s commitment to social equity and small business participation, the Master Development Agreement included requirements for mentoring and contracting with small businesses in the development and construction industries, particularly local, BIPOC-owned businesses; quality jobs and employer standards; and sustainability.   

“We’re excited to be working alongside the Port of Portland and Grainger to bring this incredible opportunity to Gresham,” said City of Gresham Mayor Travis Stovall. “This distribution center will create much needed living-wage jobs for our community, bringing us one step closer to our goal of creating a thriving economy for all.” 

Throughout the process, GV5 LLC provided opportunities for new partnerships, knowledge sharing, and hands-on experience for participants at all levels of the project. The development team includes partnerships between Specht Development and Colas Development Group; Mackenzie, Summit Engineering, BIM Connection, and Bainbridge Design; Perlo Construction and Colas Construction; and JLL and Salvador Blume Properties. 

Promptly following closing of the transaction, GV5 LLC began development of the site on behalf of Red Agate LLC, a wholly owned subsidiary of W.W. Grainger Inc. (Grainger), the nationally recognized distributor of maintenance, repair and operating (MRO) products. In 2025, Grainger plans to open an approximately 530,000 square-foot distribution center at GVBP Lot 5. The approved project plans also include a potential future expansion totaling approximately 300,000 square feet. Grainger has demonstrated a commitment to serving the community while also serving businesses and enhancing customer service across the Pacific Northwest. 

“This project represents the culmination of years of hard work by the Port of Portland and we are pleased to be able to deliver this facility for W.W. Grainger, a business that meets all the Quality Employer criteria set out in the Master Development Agreement,” said Greg Specht, Chief Executive Officer of Specht Development, Inc. and managing member of GV5 LLC. “This is our second project at the Gresham Vista Business Park and once again, the City of Gresham’s collaborative and pragmatic approach was instrumental to the success of the project.” 

Development of this site will expand employment opportunities, attract skilled professionals, strengthen our workforce, and boost the economic health of the region. 

• At completion, the new facility is expected to provide 80 quality jobs, and over time will provide more than 150 jobs.  
• The development meets and often exceeds the Port’s quality employer standards. Grainger offers highly competitive wages and benefits, including competitive and comprehensive family and individual health coverage; wellbeing support; educational assistance; extended parental leave; an automatic six percent 401(k) company contribution; and a three-to-one team member matching gifts program for qualifying charitable organizations. Over the past year, Grainger has again enhanced its offerings to continue meeting the needs of its team members and their families. 
• Grainger has also demonstrated a commitment to establishing and maintaining a diverse and inclusive workplace that reflects the community and customers it serves. 
• Through implementation of innovative solutions, Grainger continues to reduce its distribution center waste year-over-year, reaching a 94% recycling rate across the U.S. network in 2022 as outlined in its latest Environmental, Social and Governance Report, www.GraingerESG.com.  

Development of the project for Grainger at GVBP Lot 5 is now underway. 

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About the Port of Portland 
The Port of Portland operates three airports, four marine terminals, and five business parks. Using its resources, expertise, and influence, the Port is striving to pull down barriers and unlock new opportunities for people and local businesses who have been left out of the region’s economic growth, including people of color, low-income workers, and people with disabilities. The Port is leading major initiatives in the region, including the $2 billion project to expand, modernize, and make PDX more accessible and welcoming; transforming an unused marine terminal into a site for housing industry innovation; and providing more options for Pacific Northwest businesses to ship their products around the world. For more information, visit PortofPortland.com. 

About W.W. Grainger 
W.W. Grainger, Inc., with 2022 sales of $15.2 billion, is a leading broad line distributor with operations primarily in North America, Japan and the United Kingdom. Grainger achieves its purpose, We Keep The World Working®, by serving more than 4.5 million customers worldwide with innovative technology and deep customer relationships. The Company operates two business models. In the High-Touch Solutions segment, Grainger offers more than 2 million maintenance, repair, and operating (MRO) products and several services, such as technical support and inventory management. In the Endless Assortment segment, Zoro.com offers customers access to more than 12 million items, and MonotaRO.com provides more than 20 million items. For more information, visit invest.grainger.com.