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10/07/20
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The Purdy Brush Building, 95.5k sf, single-tenant facility in Portland’s Rivergate Industrial District, was sold by Oregon Transfer Company in a recent transaction. The building, located at 13201 North Lombard St, is the headquarters facility of Sherwin-Williams’ consumer brand company Purdy. The price was not disclosed.
Originally built in 1980, the Purdy Brush Building has served as the brand’s global headquarters and primary paintbrush manufacturing facility since 1985. The building sits on a large, 9.5-acre site, which includes yard storage, 192 parking spaces and two acres of excess land.
Paige Morgan and Charles Safley with CBRE Capital Markets represented the seller in the deal. The buyer was not named.
“We saw strong investor interest in this property as it serves as a critical manufacturing facility within a Fortune 500 company’s supply chain. It is also extremely well-located for distribution needs, with easy access to I-5 and the Port of Portland’s Terminal 6 marine cargo facility, and with downtown Portland only 10 miles away,” commented Morgan.
According to CBRE Research, Portland’s industrial market has held steady despite economic disruption resulting from the pandemic. Industrial sales volume in the second quarter of 2020 was up 32% from the same period a year earlier.
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