Trammell Crow Company – Cascade Station
Ball Janik LLP assisted Trammell Crow Company, one the nation’s leading developers and investors in real estate, with the acquisition and development of Cascade Station, a landmark mixed-use project adjacent to the Portland International Airport. The development consists of approximately 120 acres and includes Oregon first IKEA, a Target super-store and a retail shopping center with restaurants, office space and several hotels.
This complex transaction involved:
- acquisition of the ground lease rights from the holder of the development rights;
- obtaining land use rights from the City of Portland that were required for the development of the site;
- negotiations with the Port of Portland (the fee owner of the site);
- negotiations with the Portland Development Commission (now known as Prosper Portland))(the holder of financing encumbering the site);
- negotiations with the IKEA and the developer of a retail shopping center regarding acquisition of their respective ground lease interests;
- negotiations related to the development of the office space; and
- negotiations related to the hotel developers’ acquisition of their respective ground lease interests.
Ball Janik’s work also included the negotiation of site development rights, construction contracts and financing for portions of the project.