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7/30/18
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A 100% leased, single-tenant investment warehouse in Portland was purchased for $8 mil by Adler Realty Investments. The 78k sf warehouse property, located at 5825 NE Skyport Way, was sold by Ederer Properties II.
The facility includes 7k sf of office space. It is located on 6.21 acres in the northeast area of Portland with accessibility to Interstate 5 and Interstate 205 as well as other major transportation routes.
Scott Murphy, Zach Francis and Karla Hansen with Kidder Mathews represented both parties in the transaction.
“The buyer was looking to buy an industrial building in Portland for the last two years. The inventory has been very low with high barriers to entry for these types of properties,” said Murphy. “This was one of only a few industrial investment sales between $5,000,000 and $10,000,000 in the past year,” he said.
Cap rates on industrial property continue to stay compressed, even with the uptick of interest rates due to the 1031 exchange climate and limited supply.
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