|
8/13/18
|
Mason Street Commons, a leased, single-tenant investment warehouse located at 4201 NE 161st Ave in Portland, OR, was purchased for $4 mil by Jerry and Deborah Ivy, a private investor. The seller, Forward Properties LLC, opted to sell the distribution warehouse through a sale-leaseback transaction.
The 26.3k sf ($152/sf) warehouse includes 2.5k sf of office space. It is located on 1.38 acres in a professional business park environment. Situated minutes from major transportation routes Interstate 205 and Interstate 84, the property benefits from superior access to the entire Portland metro area.
Only a handful of these types of transactions occur annually in the Portland market. Kidder Mathews commercial real estate brokers, Zach Francis and Karla Hansen, represented both parties in the sale.
Similar industrial buildings traded for less than $100 per square foot during the recession years. Mason Street Commons traded for over $150 per square foot, which is a function of both increased rental rates and cap rate compression, as well as overall increase in demand for industrial investments in the market, according to Kidder Mathews.
|
|
Return to the Archive page
|
|
|
|
|