August 6, 2020
NY-based Clarion Partners acquired PDX Logistics Center III and IV in Portland from Capstone Partners and PCCP for $43.5 million. The two new, state-of-the-art industrial warehouses total 257,149 square feet.
The facilities represent the final phases of PDX Logistics Center on ground leased from the Port of Portland. The project was the first major speculative industrial development in the Portland area since 2008. It consists of a three-phase, six-building project totaling 1,105,800 square feet.
The 40-acre site along Northeast Alderwood Road is east of PDX International Airport, directly adjacent to Cascade Station and the MAX light rail line, with easy access to the interstate system.
JLL’s Bo Mills, Mark Detmer, Ryan Sitov, Buzz Ellis and Adam Taylor handled the transaction on behalf of PCCP and Capstone.
For comments, questions or concerns, please contact Dennis Kaiser