JLL Completes $36M Sale of PDX Logistics Center II

The Class A, 355,200-square-foot asset was sold to Clarion Partners.

by Adina Marcut

PDX Logistics Center
PDX Logistics Center

PortlandCapstone Partners LLC and PCCP LLC, aided by JLL Capital Markets, announced the sale of PDX Logistics Center II, a brand new, Class A, 355,200-square-foot industrial asset in Portland. Clarion Partners purchased the fully leased property for $36.2 million.

“PDX Logistics Center II is a superior asset that benefits from being fully leased by two institutional credit tenants, (…) this presented investors with an opportunity to take advantage of a secure cash flow in a newly constructed building,” Mark Detmer, managing director at JLL, said in a prepared statement.

The building includes state-of-the-art features such as ESFR sprinklers, a 140-foot truck court, 32-foot clear height, 65 dock high doors and four grade-level doors. The building is also equipped with low-cost T-5 lighting and 6,000 square feet of office space.

Located in the NE Columbia Corridor, right next to the 491,000-square-foot Phase I building, PDX Logistics Center II provides tenants with easy access to Portland’s essential infrastructure, including PDX International Airport, Interstates 5, 205 and 84, and TRI-MET Light Rail.

Managing directors Mark Detmer, Buzz Ellis and Bo Mills and Senior Vice President Paige Morgan led the JLL team on the sale.

Image courtesy of Capstone Partners