Lack of New Product Boosts Portland Industrial Appeal
Demand continues for Portland industrial product and EverWest Real Estate Investors recently capitalized on that demand with its acquisition of a 106,750-square-foot light industrial building at 10675 N. Lombard St. The $10.05 million acquisition is located on 5.34 acres in the South Rivergate submarket surrounded by the Port of Portland Terminals 4, 5 and 6.
“Limited new construction and a strong infill port location keeps industrial demand for this area high and supports consistent year-over-year rent growth for this asset,” said Ryan Madson, EverWest managing director. “The building is flexible for single- or multi-tenant configurations, and able to accommodate sea, river and rail traffic.”
The Lombard Street building features up to 22-foot clear height, 24 dock-high doors and a 6,422-square-foot office area. It is approximately five miles to Interstate 5 and less than 10 miles to downtown Portland.
Michael Merino of Colliers International represented the seller, Richards Homewares Inc. The property was acquired as a five-year sale-leaseback, with Richards Homewares leasing 100 percent of the building.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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