Average Rental Rate
12-Month Rent Growth
SF Under Construction
Hayden Island / Swan Island
Hayden Island/Swan Island lies proximate to the Port of Portland's Terminal 6. It is home to Swan Island Industrial Park, a 430-acre industrial center along the Willamette River, just southwest of the University of Portland campus. Notable tenants include a 472,000-SF truck manufacturing plant owned and occupied by Daimler and a 420,000-SF building owned and occupied by Graphic Packing International.
Vigor Industrial, a ship building and ship fabrication company, also commands a large presence at the park, along the northwest end of the Swan Island Basin. Here, there are several large drydock facilities and over 600,000 SF of warehouse space. The company also has its corporate offices in Portland.
FedEx occupies a 212,000-SF distribution center built by Kentucky-based Setzer Properties in 2015, which sold for $31.2 million that same year. This is the submarket's only industrial property to deliver since the recession, and the pipeline remains dormant.
Aside from the west side of Hayden Island—which is encumbered with heavy vegetation—there is very little developable ground that would be suitable for a larger scale industrial use. This will keep the submarket somewhat immune from heavy supply side pressures.
No significant rental rate activity was reported this quarter.
No significant leasing activity was reported this quarter.