CBRE secures new lease with Hawthorne Hydroponics at Centennial Industrial at Port of Vancouver
30 Jun 2018
CBRE announced Hawthorne Hydroponics as the newest tenant at the Centennial Industrial Building, a 125,000-square-foot new construction project at the Port of Vancouver in Vancouver, WA.
Jake Bigby and Rob McEachern, SIOR of CBRE’s Portland office represented Hawthorne Hydroponics in the transaction. The Port’s Board of Commissioners unanimously approved the lease at the board’s June 19 meeting.
“Hawthorne Hydroponics was on a very short timeline to find warehouse space and everyone involved worked overtime to meet that need,” said Jake Bigby, Senior Associate. “We could not thank the Port and Hawthorne enough for all of their efforts to get this lease completed in a timely fashion.”
Located at 3300 Northwest 32nd Avenue, the Centennial Industrial building is the newest building at Centennial Industrial Park. With approximately 125,000 sq. ft. of state-of-the-art industrial space, the Centennial Industrial building features 32-foot interior clear height, abundant power, natural gas, easy access for tractor-trailers and ample parking.
Hawthorne Hydroponics is leasing the entire property which sits on 5.6 acres. Hawthorne Hydroponics is a subsidiary of Scotts Miracle-Gro Company (SMG). SMG recently acquired Sunlight Supply which is also located in the Port.
The Hawthorne Company estimates they will initially employ around 50 people at their new facility, where they will manufacture plastic containers and air filters used in an array of industries, including indoor and urban gardening.
The region’s industrial vacancy rates have remained among the lowest on the West Coast over the last five years according to CBRE Research. Over the next 24 months, vacancy is expected to compress while rental rates grow.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.