Portland, Ore. (December 14, 2015) – Watumull Properties Corp., a Honolulu based real estate investment firm, that owns a portfolio of commercial buildings in Portland and the surrounding area, has purchased a manufacturing facility located at 3901 SE Naef Road in Milwaukie, Oregon. Purchase price on this facility and surrounding land was $7,500,000. The building was formerly owned by Blount International Inc., an outdoor equipment manufacturer. Kidder Mathews brokers, Steven Klein, Peter Stalick, and Jeff Kiersey represented the buyer in the transaction, and will handle the leasing of the facility.
This 205,303 square foot property is a state of the art manufacturing facility with extensive electrical capacity, climate controlled production area, pneumatic air lines, floor drains, water lines, oversized gas lines, air compressors, back-up generator, water filtration, exhaust systems, locker rooms, and other high value manufacturing infrastructure. This building is ideal for many manufacturing and assembly uses including food processing. "Given the high value manufacturing infrastructure, a manufacturing company can save a significant amount of up front capital by selecting this facility,” said Klein. This property represents a tremendous opportunity for a manufacturing company. Additionally, the property features high ceilings and dock high doors and could also be used as a distribution/warehouse facility.
J.D. Watumull President of Watumull Properties said, “This was a great opportunity to acquire a well located industrial building to add to our Portland holdings”. Watumull Properties is currently seeking additional acquisition opportunities in the Portland metro market.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 500 real estate professionals and staff in 12 offices in Washington, Oregon, California, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $3.2 billion in transactions, manages 36 million square feet of space, and conducts over 1,300 appraisals annually. For more information, visit kiddermathews.com.