The industrial buildings at two freestanding buildings located at 19217 and 19241 NE San Rafael Street.  (photo: Cushman & Wakefield)
The industrial buildings at two freestanding buildings located at 19217 and 19241 NE San Rafael Street.
17.12.2020, 21:36

Acquisition of Portland Industrial Portfolio

Real Estate, Americas, Service Provider News, Commercial Property

Investment real estate firm Black Creek Group have announced the acquisition of a two-building 122,800SF industrial portfolio in Portland, Oregon.

The multi-tenant property at 19217-19241 NE San Rafael in Portland’s East Columbia Corridor submarket was recently renovated, and is 100 per cent leased to two tenants.


The seller was a private investor, with Keegan Clay and Aaron Watt from Cushman & Wakefield's Portland office representing Black Creek during the transaction.  


Clay believes Portland’s industrial sector is attractive to investors because of healthy fundamentals supported by low vacancy and strong activity.  He describes 19217-19241 NE San Rafael as "a stable, modern quality asset providing long-term income from the existing tenants, which gave it great appeal for the buyer as an investment opportunity in a strong East Columbia submarket."

Gregg Boehm, senior VP for Acquisitions and Development for Black Creek's Western Region agrees, adding: "These buildings represent the well-located light industrial facilities with stable tenants that Black Creek continues to pursue.


"We continue to see industrial perform well in today’s environment especially in strong markets like Portland, which exhibits healthy population and economic growth."

According to Cushman & Wakefield’s Q3 2020 market report, Portland’s industrial market vacancy was just 3.9 per cent, with  occupancy increasing by almost 1 million SF during the period of the report. The company also reports strongest growth in the third quarter of 2020 when 1.8 million SF of new leasing activity was recorded, bringing the year-to-date total to 4.2 million SF.


Cushman & Wakefield also reports that Portland's East Columbia submarket has seen the strongest growth of any in the city this year.



Article rating:

vote data

Leave a reply

Pictured: Compass Group PLC CEO, Dominic Blakemore. (photo: Compass Group UK & Ireland)
News Editor  - 11.01.2021

Putting the Planet First

Compass Group is among 25 companies to have confirmed support for the Terra Carta pledge launched by HRH The Prince of Wales’ Sustainable Markets Initiative.

 (photo: Meritt Thomas)
Simon Green  - 06.01.2021

Smoke Bombing or Air Sanitisation Units?

Simon Green, Head of Value Engineering, Sourcing & Quality for the Airdri Group, explains why air sanitisation units are preferable to the practice of smoke bombing in workplaces post-Covid-19.

 (photo: TUV Rheinland)
News Editor  - 06.01.2021

Hailing Building Materials Testing

A specialised testing service from TÜV Rheinland can prevent damage to buildings, cars and caravans caused by hailsontes.

 (photo: Compass Group UK & Ireland)
News Editor  - 18.12.2020

Providing 20,000 Meals to Those in Need

The Wimbledon Foundation has extended its support for organisations addressing food poverty at Christmas and beyond as part of its response to COVID-19.

 (photo: CPD Global)
News Editor  - 18.12.2020

Ecolab Named to CDP A Lists

The Carbon Disclosure Project (CDP) has added Ecolab to its A List for Climate, as well as Water Security.

 (photo: Bodet SA)
News Editor  - 17.12.2020

Enhancing Home Worker Visibility

Bodet have extended the coverage of the Kelio time and attendance software solution to staff working at home.