Colliers Facilitates $12.3M Sale of Longview Industrial Parcels
An undisclosed west coast-based pipe manufacturer has acquired 3500 Hoehne Avenue, a 38-acre industrial property in Longview, WA for $12.3 million. Colliers’ Brian Yoakum and Jerry Matson represented the seller, NWM Properties, LLC in the transaction.
The property is comprised of two land parcels, both about 19-acres, with seven stand-alone buildings totaling nearly 75,000 square feet of warehouse, storage and office space. The asset features direct access to the I-5 corridor, allowing connection to key markets in Oregon, Washington, Canada and California.
“We’re seeing a growing trend in which owner-occupiers are more frequent front-runners for larger industrial acquisitions, because of their ability to purchase with cash,” said Yoakum in a news release. “This is a big change, from even just a few months ago, and dictates the way large industrial sites are marketed and sold. It also allows users more opportunity to acquire strategically located property in a highly competitive market.”