In an ongoing effort to keep you apprised of recent and significant sale activity, we wanted to make you aware of an industrial park in the Clackamas area that sold for an all-time new high!
George Diamond, Nicholas Diamond, Allen Patterson, SIOR, and Scott Miller at Capacity Commercial Group are pleased to announce the closing of 7000 S. 10th Street in Ridgefield, WA. George and Nick represented the buyer while Allen and Scott represented the Seller. This 112,256 SF recent-construction warehouse property sits on 6.4 acres in the area's fastest-growing industrial park. The three occupants (national and regional operators) all have long-term leases. Completed in 2019, the asset has 9 dock doors, 3 grade doors, 3-phase 2,500 amp power, and 30' clear height. Located in a growing industrial park in the up-and-coming city of Ridgefield, the property also has ample parking in relation to its area. Truly a standout amongst new-construction industrial offerings, the property sets a strong benchmark for sales performance of industrial investments in the area. As part of the sale, The Diamond Team spearheaded an investment group to purchase the property for a strategic long-term hold. For more information, please contact: George Diamond 503.222.2178 firstname.lastname@example.org Nicholas Diamond 503.222.2655 email@example.com Allen Patterson, SIOR 503.542.4347 firstname.lastname@example.org Scott Miller 503.517.9872 email@example.com
Elliot Rask and McCoy Doerrie facilitated an exciting off-market acquisition for an 11,490 SF office and medical building in the heart of Tigard. North Point Wealth Management bought the property during a period of extremely limited supply. Thanks to the leveraged knowledge and expertise of Elliot and McCoy, North Point was able to secure a well-located facility under an SBA loan with low interest rates.
Crystal Finch Logistics, located at 7220 NE 47th Avenue in Vancouver, WA, has just hit the market. The project is expected to deliver in Q2 2023. This prime +/- 78,000 SF building with build-to-suit office.
1915 NW 26th Avenue is a divisible 1,390 SF space spanning two storefronts with the possibility to be converted into a live / work space. With high ceilings, there is also the possibility of adding a mezzanine. Retail signage opportunities, a secured and covered off-street parking space, large front windows, abundant natural light, and access to amenities along NW 23rd Avenue make this property a rare gem. It’s only a block away from a bus line and has immediate access to Hwy 30 and NW Vaughn Street.
As of the end of Q2 2021, we're seeing construction costs reaching all-time highs, lease rates continuing to increase, and land prices climbing due to a lack of supply and an abundance of demand.
With the rise of inflation due to federal COVID relief packages, landlords are considering signing new leases with annual increases tied to the Consumer Price Index (CPI) instead of the traditional 2-3% increase.
Additionally, businesses are encountering a huge challenge with a lack of skilled labor.
To learn more about the status of the Industrial Market, view our newsletter here.