|
|
8/13/15
|
Birtcher Center, a three-building, 397.9k sf industrial complex located at Townsend Way in Fairview, OR, was acquired by Invesco Real Estate. The asset was sold by a fund managed by Cornerstone Real Estate Advisers.
Located less than 10 miles from the airport in one of Portland’s strongest industrial submarkets, Birtcher Center at Townsend Way features 50 foot concrete truck aprons, ample parking, good street access and a diverse tenant mix of different distribution, logistics and light manufacturing companies, including Archive Systems, Connor Manufacturing and Intertek Testing. The project was certified LEED Gold in 2008 and was 88 percent leased at the time of closing.
The property was on the market for just 45 days before a deal was finalized. The price was not disclosed.
A collaborative team of CBRE professionals, including Brett Hartzell in Seattle, Stuart Skaug in Portland and Darla Longo in Oakland, represented the seller in the transaction. The seller developed Birtcher Center on the 20.2-acre property that it purchased from Townsend Farms in 2007.
“The northeastern Airport Way submarket is one of the most sought after industrial markets in the region,” said Hartzell. “These buildings represent some of the highest institutional quality product for sale in Portland in the past few years.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
