Rare, Freestanding Industrial Warehouse Sells for $4M in NE Portland

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Portland, Ore. (August 9, 2018) – Mason Street Commons, a leased, single-tenant investment warehouse located at 4201 NE 161st Avenue in Portland, Oregon, has sold for $4,000,000 to Jerry and Deborah Ivy, a private investor. The seller, Forward Properties LLC, opted to sell the distribution warehouse through a sale-leaseback transaction. Only a handful of these types of transactions occur annually in the Portland market. Kidder Mathews commercial real estate brokers, Zach Francis and Karla Hansen, represented both parties in the sale.

The 26,270-square-foot warehouse includes 2,500 square feet of office space. It is located on 1.38 acres in a professional business park environment. Situated minutes from major transportation routes Interstate 205 and Interstate 84, the property benefits from superior access to the entire Portland metro area.

“We are very pleased to be able to complete this transaction for both the buyer and the seller,” said Francis, Senior Vice President and Partner with the firm. “After touring over 20 owner-users through the property, we came to the conclusion that a sale-leaseback to an investor was the best way to achieve the desired price for the seller. It was this flexibility and creativity that helped push this transaction to the finish line.”

Similar industrial buildings traded for less than $100 per square foot during the recession years. Mason Street Commons traded for over $150 per square foot, which is a function of both increased rental rates and cap rate compression, as well as overall increase in demand for industrial investments in the market.

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.

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