Gerding Edlen Development will begin work in October on a $66 million warehouse renovation for Vestas’ new headquarters.
Gerding Edlen Development purchased the historic Meier & Frank warehouse in 2007 before the mortgage crisis hit.
Now, Vestas American-Wind Technology plans to move into the warehouse after a $66 million renovation.
In 2008, Gerding Edlen announced it would partner with GBD Architects to redevelop the 150,000-square-foot property as a speculative project. In May that year, Skanska USA announced that it would become the project’s anchor tenant, as well as its contractor. But then the construction market took a nosedive, and Skanska USA had to reconsider, said Nathan Gibson, the firm’s vice president of business development.
“Once the market took a turn, we decided not to go through with a move,” Gibson said. “We’re now staying at our current offices in Beaverton. That Vestas is going to be occupying that space is exciting news.”
Read more at the Daily Journal of Commerce.