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Seattle & Northwest  + Oregon  + Industrial  | 

Canadian Investor Acquires Portland Distribution Facility

Toronto-based WPT Industrial REIT purchased Interstate Crossroads Distribution Center (ICDC), a 492,554-square-foot warehouse and distribution facility in Portland, OR for $56 million. The seller was a partnership between Portland-based Specht Development, Inc. and Pacific Coast Capital Partners, LLC (PCCP).

The property is fully leased by two credit tenants and located at 16441 NE Cameron Blvd. in Portland’s Airport Way, a highly coveted industrial submarket. The site was one of the last developable sites in the Northeast Columbia Corridor, and provides connectivity via Interstates 84 and 205, as well as Portland International Airport.

JLL’s Buzz Ellis, Mark Detmer, Bo Mills, Paige Morgan and Ryan Sitov handled the sale. Specht will continue to serve as property manager.

“This asset checks all the boxes for an investor,” said Ellis. “Its in-fill location in Portland’s best submarket, limited office build-out and flexible space make this exactly what every institution wants to own.”

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
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