JLL Completes $36M Sale of PDX Logistics Center II
- Nov 11, 2016
by Adina Marcut
Portland—Capstone 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