A new 530,000 square-foot distribution center could open as early as 2025 at Gresham Vista Business Park, after the Port of Portland announced on July 18 that it sold a development site to GV5 LLC, a partnership formed by local firms Specht Development and Colas Development Group. Upon the transaction’s closure, GV5 LLC began developing the site for Red Agate LLC, a wholly owned subsidiary of W.W. Grainger Inc., a national maintenance, repair and operating product distributor, the port said. “We’re excited to be working alongside the Port of Portland and Grainger to bring this incredible opportunity to Gresham,” City…