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12/15/15
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Watumull Properties Corp paid $7.5 mil for a 205.3k sf ($36.50/sf), manufacturing facility in Milwaukie, OR. The building, located at 3901 SE Naef Rd, was formerly owned by Blount International Inc, an outdoor equipment manufacturer.
The building is a state-of-the-art manufacturing facility with extensive electrical capacity, climate-controlled production area, pneumatic air lines, floor drains, water lines, oversized gas lines, air compressors, back-up generator, water filtration, exhaust systems, locker rooms, and other high value manufacturing infrastructure. Additionally, the property, which also features high ceilings and dock-high doors, could also be used as a distribution/warehouse facility.
Kidder Mathews brokers, Steven Klein, Peter Stalick, and Jeff Kiersey represented Watumull, a Honolulu-based real estate investment firm, and will handle the leasing of the facility. The building is ideal for many manufacturing and assembly uses including food processing.
J.D. Watumull, President of Watumull Properties, said, “This was a great opportunity to acquire a well located industrial building to add to our Portland holdings”. Watumull Properties is currently seeking additional acquisition opportunities in the Portland metro market.
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