The Port of Portland has approved a ground lease for PDX West Logistics LLC — a project entity formed by Capstone Partners — to transform a long-vacant site on NE 33rd Avenue adjacent to Portland International Airport into a $130 million logistics and distribution hub. The 950,000-square-foot project is projected to create more than 500 permanent jobs and generate $4.4 million in state and local taxes annually.

The development addresses the region’s shortage of large, development-ready industrial space. “This logistics and distribution hub will give businesses the large, development-ready space they need to grow and succeed, while also creating hundreds of good-paying local jobs for working families,” said Port of Portland Chief Aviation Officer Dan Pippenger. Capstone Principal Chris Nelson noted the site’s proximity to PDX, I-5, and I-205 makes it strategic for logistics providers serving the Portland metro area and greater Pacific Northwest.

The project also brings community transportation and safety improvements, including a new traffic signal at NE 33rd Avenue and Marine Drive and a wide multiuse path separating walkers and cyclists from traffic along the 40-Mile Loop. Construction will require more than 500 workers over nearly three years, with groundbreaking expected in summer 2027.

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