A 68,289 square foot manufacturing flex building, located at 5500 NE Moore Court in Hillsboro, Oregon, has been purchased in partnership by two Portland area real estate investors, King Capital Investments, LLC and 5500 NE Moore CT, LLC, for $8,500,000. The seller was Wood Street, LLC, a locally owned real estate investment firm. Kidder Mathews commercial real estate brokers Zach Francis, Karla Hansen, Ryan O’Leary, and Rebecca Liddell represented the buyers in the transaction. George Slevin and Cliff Finnell, also with Kidder Mathews, represented the seller.
The listing of 5500 NE Moore Court originated as an owner-occupier sale. It changed to a net leased investment sale when Peter Stalick, senior vice president at Kidder Mathews, procured a new 10-year tenant for the property. The tenant, HIS Innovations Group, is a leading manufacturer of stainless steel components and systems for high vacuum (HV) and ultra-high vacuum (UHV) applications.
Francis, Hansen, O’Leary, and Liddell brought in two separate buyers who partnered on the acquisition. One buyer had a 1031 exchange; the other was in the market for investment property in the area.
“This was a challenging sale to get financed during the COVID-19 pandemic, but it’s also a continued reminder of the strength of the Portland Metro industrial market,” said Francis.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 900 real estate professionals and staff in 22 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 $9.6 billion in transactions, manages over 70.5 million square feet of space, and conducts over 1,680 appraisals annually. For more information, visit kidder.com.