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2/27/17
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A 112.5k sf manufacturing facility in Hillsboro, OR was purchased by an unnamed private investor for $8.1 mil, or $72/sf. The property sits on 15.73 acres of land adjacent to Hillsboro Airport.
The property was built in stages with the original construction started in the 1950’s and additional renovation and expansion work in 1989. The majority of the property is climate controlled. The parcel, which includes over eight acres of excess land, is zoned IP, Industrial Park, City of Hillsboro.
Cara Nolan and Jake Bigby with CBRE represented the seller, Roland Organ Corporation, in this transaction. According to CBRE, there is very limited availability in the Portland industrial market and it’s even tighter in Hillsboro where there are no industrial properties over 30k sf currently available for sale.
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