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BLT Enterprises Sells Oregon FedEx Ground Facility for $16M
Santa Monica, CA-based BLT Enterprises sold a 91,711-square-foot distribution warehouse in the Medford, OR submarket of Central Point for $15.9 million. The building is fully-leased to FedEx Ground.
BLT Enterprises’ Bernard Huberman says, “The success of this sale is demonstrative of the strength of our investment strategy and long-term landlord approach. Throughout our eight-year ownership of the asset, our lease agreement with FedEx and commitment to improving and expanding the property as-needed allowed us to sell at a premium price.”
The facility was initially developed from the ground up as a build-to-suit project for FedEx in 2009. BLT then completed an expansion of the property in 2015.
Marcus & Millichap’s David Weinberg, Paul Kerber and Adam Lewis represented the seller. Sperry Van Ness’ Barbara Kreis advised the buyer, Tomchi Oregon, LLC.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
