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Portland, Ore., June 12, 2012 — Jones Lang LaSalle announced it has completed the $23.35 million sale of 217 Distribution Center, a 449,245--square-foot industrial complex located on SW 11th Street in Beaverton, Ore. The buyer was Kansas City, Missouri-based life insurance group Kansas City Life. The seller was Portland-based Schnitzer Investment Corp.
Managing Directors Mary Sullivan, John Jugl, Jr., and Buzz Ellis and Vice President Paige Morgan led the Jones Lang LaSalle team on this transaction. The property, known as 217 Distribution Center, is comprised of five buildings on more than 22 acres. It is 96.5 percent leased and occupied with a mix of national and regional credit tenants. Listed as one of the top 50 business parks in the region, 217 Distribution Center was built in 1978 and features 24-foot clear ceiling heights in four of its five buildings. The buildings offer a mix of dock-high, grade level and rail doors and the complex provides parking for 345 vehicles. The property is strategically located just four miles from I-5, eight miles from downtown Portland and 20 miles from Portland International Airport. It is also five miles from the NIKE campus.
This is Jones Lang LaSalle’s second major disposition in Beaverton in the last 30 days. Earlier this month, the firm completed the sale of two buildings at The Round at Beaverton Central, a transit-friendly commercial development in the heart of the city.
For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center webpage. Bookmark it here: http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx
About Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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