Norris & Stevens Brokers Portland Office Sale
Christ Church Sellwood has acquired 7970 SE Milwaukie, a 5,000-square-foot office/retail property in Portland, OR. Norris & Stevens’ Tim Pfeiffer and Camden Muller represented the buyer in the $1.55 million transaction while Jim Gillespie and Stacey Rustad-Smith with Keller Williams Realty represented the seller, CBA Group.
The single-story office/retail facility, currently occupied by the Classical Ballet Academy, is situated on 0.13 acres and includes six parking spaces. It is conveniently located within close proximity to Hwy 99E in the Sellwood-Moreland neighborhood of Portland. The asset is situated just six miles from Downtown Portland and seven miles from Central Clackamas, OR.
A recent report on the office sector from Kidder Mathews indicates the Clackamas/Milwaukie submarket of Portland has a respectable direct vacancy rate of 6.3% and a $28.92 total rental rate, one of the highest in the region.