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Seattle & Northwest  + Industrial  | 

Amazon-Occupied Facility in Salem Sells for Nearly $106M

PNC Realty Investors acquired Mill Creek Logistics Center, an Amazon-occupied industrial facility in Salem, OR, from Capstone Partners LLC and PCCP, LLC for $105.5 million. The recently-delivered more than one-million-square-foot building is leased by Amazon.

The build-to-suit fulfillment center is located at 4775 Depot Court SE, within the 1.6-million-square-foot industrial park near I-5 and Highway 22. The nearly 550-acre, master-planned site lies within an Oregon Enterprise Zone as well as an E-Commerce Zone, and boasts Home Depot and FedEx as other tenants.

JLL’s Mark Detmer, Bo Mills and Ryan Sitov handled the sale, with local market expertise from JLL’s Buzz Ellis and Adam Taylor. Colliers International’s Paul Breuer and Jerry Matson represented the landlord in the Amazon lease.

Amazon was attracted by a quick development timeline, as well as the key logistics site that draws from a one-million labor pool. It is the seventh deal Capstone’s Portland office has completed with investment partner, PCCP.

Connect Bay Area is coming up next week at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
  • ◦Lease
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