July 21, 2017
Toronto-based WPT Industrial REIT purchased Interstate Crossroads Distribution Center (ICDC), a 492,554-square-foot warehouse and distribution facility in Portland, OR for $56 million. The seller was a partnership between Portland-based Specht Development, Inc. and Pacific Coast Capital Partners, LLC (PCCP).
The property is fully leased by two credit tenants and located at 16441 NE Cameron Blvd. in Portland’s Airport Way, a highly coveted industrial submarket. The site was one of the last developable sites in the Northeast Columbia Corridor, and provides connectivity via Interstates 84 and 205, as well as Portland International Airport.
JLL’s Buzz Ellis, Mark Detmer, Bo Mills, Paige Morgan and Ryan Sitov handled the sale. Specht will continue to serve as property manager.
“This asset checks all the boxes for an investor,” said Ellis. “Its in-fill location in Portland’s best submarket, limited office build-out and flexible space make this exactly what every institution wants to own.”
For comments, questions or concerns, please contact Dennis Kaiser