CBRE Arranged $22.3 Million Sale of Riverside Industrial Park in Portland

CBRE arranged the $22.3 million sale of Riverside Industrial Park, a two-building shallow bay industrial park located in Portland, OR.

Brett Hartzell, Charles Safley, Chris Reeves of CBRE National Partners along with Eleanor Aschoff, a CBRE leasing broker and local market expert, represented the seller, Ostling Group.

Reeves remarked, “Riverside Industrial Park is a prime example of the strong liquidity and investor confidence we continue to see in Portland’s industrial market. High-quality, infill, shallow-bay assets like this remain highly sought after, underscoring sustained belief in both the fundamentals of the Portland market and the long-term strength of the shallow-bay industrial sector.”

Located at 13422-13444 and 13609-13625 NE Jarrett Street in Portland, the two buildings total 129,142 square feet. The property has 20-24-foot clear heights, excellent truck access, 28 dock-high doors, 16 grade-level doors. It is also 92% occupied by eight tenants in logistics, construction supply, retail and manufacturing/fabrication industries. Shallow bay industrial properties, typically ranging from 10,000 to 25,000 SF are characterized by their adaptable layouts and strategic locations, often infill areas within dense population centers making new development difficult and creating high barriers to entry. These properties cater to the broad and consistent demand of local, regional and national tenants.

Riverside Industrial Park is about three miles from major highways, including I-205, I-84, and Portland International Airport.