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| Ryan Madson |
The acquisition is located on 5.34 acres in the South Rivergate
submarket, immediately 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 EverWest Managing Director Ryan
Madson.
“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’ clear height, 24
dock high doors and a 6,422-square-foot office area with a large employee
breakroom, conference facilities and storage space. It is approximately five
miles to Interstate 5 and less than 10 miles to downtown Portland.
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| Michael R. (Mike) Merino |
Michael R. Merino, SIOR, 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.
EverWest is actively negotiating additional industrial
acquisitions now in metro Portland and continues to seek out similar
opportunities in key U.S. growth markets.
CONTACT:
Stacey Hershauer
FocusAZ
480.600.0195
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