C&W Secures Sale of 330 KSF Industrial Asset
- Nov 07, 2017
Cushman & Wakefield has arranged the $26.5 million sale of a 329,474-square-foot, single-tenant industrial campus located in Tualatin, Ore. An affiliate of Meriwether Partners acquired the asset from Huntair Properties LLC.
Located at 19855-19866 SW 124th Ave., on approximately 25 acres, the multi-building campus offers convenient access to Oregon Route 99W and Interstate 5. The industrial complex features nearly 33,000 square feet of office space, 39 grade-level doors, 14 dock doors, heavy power, LED lightning and 291 parking spaces.
The three-building campus serves as Nortek Air Solutions LLC’s headquarters and manufacturing facility. The company is the only tenant in the campus and uses the space for various services, including sales, project management, engineering, manufacturing, assembly and others.
“Portland(,Ore.)’s industrial market has remained white-hot the past several years. Vacancy across Portland remains at historical lows with the Tualatin submarket, where the Nortek Campus is located, a mere 2.4 percent vacant,” Aaron Watt said in a statement. “Further, the Tualatin submarket ranks among the strongest growth areas in the region with more than 412,000 square feet of occupancy growth year-to-date.”
Senior Directors Jim Lewis and Gary Griff of Cushman & Wakefield Capital Market in Portland’s office, along with with Director Aaron Watt, represented the buyer in the transaction. Macadam Forbes’ Stu Peterson and Rhys Conrad worked on behalf of the seller. Recently, Cushman & Wakefield completed upgrades to its downtown Portland office.
Images courtesy of Cushman & Wakefield