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August 11, 2020
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Invesco Real Estate Buys 674k sf of Industrial Property in Portland

1/20/20

The three-building, 674k sf Oregon Transfer Portfolio in Portland was acquired by Dallas-based Invesco Real Estate in a deal that closed mid-December 2019. The portfolio offers excellent dock loading, rail loading and 24’-40’ clear heights.

The portfolio is located close to I-5, I-405 and I-205 freeways, which is essential for servicing Portland and the Pacific Northwest and is less than a mile from the Port of Portland and within six miles of the Portland International Airport. Additionally, all three buildings contain refrigerated components which appeal to a diverse audience of distribution and warehousing tenants.

Paige Morgan of CBRE’s Portland office in partnership with Darla Longo, Eric Cox, Barbara Perrier, Val Achtemeier (CBRE Los Angeles), Rebecca Perlmutter Finkel (CBRE San Francisco) and Brett Hartzell (CBRE Seattle), represented the seller, Oregon Transfer Company, in the transaction. The price was not disclosed.

“The Portland industrial real estate market is experiencing historically low vacancy rates and rapidly accelerating rent growth due to the rise of ecommerce and its overall attractiveness as a destination for companies and young professionals,” noted Morgan. “There is little new construction expected in the foreseeable future for this product type due to the limited available land and increasing land and construction costs making this an attractive investment.”

According to CBRE Research, approximately $1.6 bil worth of cold storage sales have transacted since 2014. While that number only accounts for 0.4% of overall industrial and logistics investments during the period, it marked an increase of 6.2% since 2014.





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