Quantcast

Under Armour scores win for expansion in Nike’s backyard

After scoring a major victory for its redevelopment project in Port Covington, Under Armour got another win for its plans to expand its presence in Portland, Oregon, the home of its arch rival, Nike.

Design commissioners in the City of Roses unanimously approved plans last week for the second phase of project to add a third floor and enlarge a second floor on an existing 64,400 square-foot building that will become a corporate office. The plans are still subject to approval from a hearings officer and a vote from the Portland City Council.

In March, the Baltimore-based athletic apparel and accessories giant announced its plans to move as well as expand their new space by 40,000 square feet. Investment banking firm George Smith Partners of Los Angeles secured $19.9 million in bridge/rehab financing for the project, reported our sister paper, the Daily Journal of Commerce.

It appears the project has a lot of support, based on reactions from the Design Commission.

“I think the building actually is better with this addition,” said Sam Rodriguez, a developer and the newest member of the Design Commission told the Daily Journal of Commerce. “The green roof and the way it frames the project, it’s a good addition. It’s a fantastic project.”

The first phase of construction is expected to be completed by January. The second phase should wrap up later in 2017.

Adidas, another Under Armour and Nike competitor, also has a presence in Portland.

To purchase a reprint of this article, contact reprints@thedailyrecord.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

*