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5/27/16
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Security Public Storage – Portland LLC recently closed on its $8.75 mil acquisition of Vaughn Street Portfolio, consisting of two industrial buildings totaling 54k sf ($162/sf) in Portland. The buildings, located at 2012 and 2050 NW Vaughn St, are 25.5k sf and 28.5k sf in size.
Cara Nolan and Sydney Bowman of CBRE represented the seller, Vaughn Street Investments LLC, in this transaction. The buyer repped itself in the deal.
“The close-in northwest location, just blocks from the large Conway mixed-use redevelopment, as well as the increasing demand for self-storage that has been spurred on by new development and higher densities in the urban core, have made this property very attractive to the buyer,” said Nolan. “The zoning flexibility on the site due to its location just outside the Guild’s Lake Industrial Sanctuary resulted in multiple offers – all from buyers interested in renovation or redevelopment of the site.”
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