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News release


Superior Quality, Location Propel Portland Industrial Sale

JLL completes $36.2 million sale of PDX Logistics Center II

Superior Quality, Location Propel Portland Industrial Sale
JLL completes $36.2 million sale of PDX Logistics Center II


PORTLAND, Oregon, Nov. 14, 2016 – Institutional investors continue to find value in the Northwest's industrial sector as vacancy rates remain low. On behalf of Capstone Partners and PCCP, LLC., JLL's Capital Markets experts today announced the firm completed the sale of PDX Logistics Center II, a brand new 355,200-square-foot industrial asset in Portland, Oregon. Clarion Partners purchased the fully leased, Class A asset for $36.2 million.

Managing Directors Mark Detmer, Buzz Ellis and Bo Mills and Senior Vice President Paige Morgan led the JLL team on the sale.

"PDX Logistics Center II is a superior asset that benefits from being fully leased by two institutional credit tenants," said Detmer. "This presented investors with an opportunity to take advantage of a secure cash flow in a newly constructed building."

Added Ellis, "This asset provided investors a chance to take advantage of a prime location in a market that boasts an industrial vacancy rate of just 3.6 percent."

Located in the NE Columbia Corridor, PDX Logistics Center II provides tenants with easy access to Portland's essential infrastructure including PDX International Airport, Interstates 5, 205 and 84, and TRI-MET Light Rail.

The building includes state-of-the-art features such as ESFR sprinklers, a 140-foot truck court, a 32-foot clear height, 65 dock high doors and four grade-level doors. The building is also equipped with low-cost T-5 lighting and 6,000-square-feet of office space.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Capstone Partners

Capstone Partners is a regional real estate development and investment company with offices in Portland and Seattle. Capstone has completed over $1 billion of industrial, office, mixed use, multi-family residential, and retail projects in the last 10 years. For more information, please visit


About Clarion Partners, LLC

Clarion Partners, an SEC registered investment adviser and FINRA member firm, has been a leading U.S. real estate investment manager for 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, England, Los Angeles, São Paulo, Brazil, Seattle and Washington, DC. With $41.5 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at



PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments.  PCCP has over $6.5 billion in assets under management on behalf of institutional investors.  With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements.  PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns.  Since its inception in 1998, PCCP has successfully raised, invested and managed over $12 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.  PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at