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Seattle & Northwest  + Portland  + Industrial  | 

Newmark Closes Record-Setting Industrial Land Sale in Vancouver

Newmark arranged the sale of the leased fee interest in the land at Columbia Business Center, an industrial site totaling approximately 113 usable acres in Vancouver, Washington. The site sold for $96 million, representing the largest single transaction by total consideration paid for industrial land on record in the Portland/Vancouver market.

Newmark Vice Chairman Nick Kucha, Executive Vice Chairman Steven Golubchik and Associate Directors Kellen Kollmorgen, Jakob Nicholls and Grant Gooding, along with Colliers Vice Chairman Jerry Matson, SIOR and Senior Vice President Brian Yoakum, SIOR, represented the private family seller.

“This sale represents the rare opportunity to own an industrial site of scale in a market with a dearth of developable land,” said Kucha. “We are pleased to have represented the sellers in a successful sale”.

Originally established in the 1940s, Columbia Business Center is a unique industrial site situated along the Columbia River. The property offers a wide variety of transportation alternatives including direct connectivity to rail lines, barge slips and traditional distribution uses.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.