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2/07/24
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BKM Capital Partners purchased Airport Way Corporate Park, a three-building, 140.7k sf industrial property in Portland, for $24.53 mil ($174/sf). The buildings were 97% leased at the time of sale to 15 tenants representing five industries.
Located at 12021 NE. Airport Way, 12055 and 12067 NE. Glenn Widing Dr, the industrial buildings are operated as a multi-tenant park. The complex is strategically located in Portland’s Northeast submarket, less than a mile from Interstate 205 and two miles from Portland International Airport and Interstate 84.
Paige Morgan, Brett Hartzell and Cara Nolan of CBRE represented the seller in the transaction.
“Airport Way Corporate Park has seen consistent leasing demand, mostly attributed to its prime location and highly functional space,” said Morgan. “In addition, there is virtually no new construction of smaller-bay industrial product in the Portland market, making existing product valuable for owners and tenants alike.”
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