SoloPower secures Portland lease

SoloPower secured a lease on North Marine Drive for its new Portland manufacturing facility.

SoloPower secured a lease on North Marine Drive for its new Portland manufacturing facility.

SoloPower Inc. signed a lease for 225,250 square feet of industrial space on North Marine Drive, the broker for deal, Kidder Matthews, announced Monday.

The building will be the initial home for SoloPower in Portland where the company expects to build two thin-film manufacturing facilities.

Earlier this month, SoloPower finalized the details of a $197 million loan guarantee from the U.S. Department of Energy. SoloPower will also benefit from a $20 million loan through Oregon's Energy Loan Program and $14 million from the state's Business Energy Tax Credit program. The Rivergate Industrial District will also provide $15 million in tax abatements.

The building, owned by Clarion Partners, was the last vacant building over 150,000 square feet in North and Northeast Portland, according to Kidder Matthews' Tom Talbot.


@SustainableBzOR | christinawilliams@bizjournals.com | 503.219.3438

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.