Security Public Storage Enters Portland with Land Buy

Security Public Storage acquired a two-building portfolio on 1.7 acres for $8.7 million. The location represents the buyer’s first foray into Portland, OR, with plans to increase its footprint.

The seller was Vaughn Street Investments LLC, registered to James Graham. The properties are 25,500 square feet and 28,456 square feet, and are at 2012 and 2050 N.W. Vaughn St., respectively. The final sales price was approximately $500,000 more than the original ask of $8.25 million, due to level of interest.

Cara Nolan and Sydney Bowman, with CBRE’s Portland office, represented the seller. The buyer was self-represented.