Portland, Ore. (July 25, 2018) – A 100 percent leased, single-tenant investment warehouse, located at 5825 NE Skyport Way in Portland, Oregon, has sold for $8,000,000 to Adler Realty Investments, a California-based commercial real estate investment firm. The seller was Ederer Properties II. Kidder Mathews commercial real estate brokers, Scott Murphy, Zach Francis and Karla Hansen, represented both parties in the transaction.
The 77,960 square foot warehouse includes 7,000 square feet of office space. It is located on 6.21 acres in the northeast area of Portland with accessibility to Interstate 5 and Interstate 205 as well as other major transportation routes.
“The buyer was looking to buy an industrial building in Portland for the last two years. The inventory has been very low with high barriers to entry for these types of properties,” said Murphy. “This was one of only a few industrial investment sales between $5,000,000 and $10,000,000 in the past year,” he said.
Cap rates on industrial property continue to stay compressed, even with the uptick of interest rates due to the 1031 exchange climate and limited supply.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 51 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.