Portland distribution warehouse sold for $16.2M

The fully leased industrial building serves as the global headquarters for Portland-based Johnstone Supply  

January 17, 2020

PORTLAND, ORE., January 17, 2020– JLL Capital Markets announced that it has closed the $16.2 million sale of a 126,303-square-foot distribution warehouse building triple net leased to Johnstone Supply at 11632 NE Ainsworth Circle in Portland, Oregon.

JLL marketed the property on behalf of the seller, Stockbridge.

11632 NE Ainsworth Circle is the global headquarters facility for Johnstone Supply, Inc, a privately held distributer founded in 1953 that trades in heating, ventilation, air conditioning and refrigeration (HVACR) equipment. Built in 1991 – and occupied by Johnstone Supply ever since – the facility features a 24-foot clear height, 18 dock-high doors, one grade-level door with drive-in capabilities, ample parking and office space. 11632 NE Ainsworth Circle is in the NE Columbia Corridor Submarket in an infill location with convenient access to regional, national and international transportation networks. It is less than two miles from Portland International Airport and seven miles from Troutdale Airport, in addition to being 11 miles from the Port of Portland’s Terminals Two, Four, Five and Six. Additionally, the property is less than one mile east of Interstate 205 and less than two miles from both the I-205/I-84 and I-205/SR-30B interchanges.

The JLL Capital Markets team representing the seller was led by Managing Directors Mark Detmer, Bo Mills and Buzz Ellis; Senior Director Ryan Sitov; and Director Adam Taylor.

“11632 NE Ainsworth presented a compelling opportunity for institutional buyers of industrial real estate,” Ellis said. “Johnstone Supply’s commitment to the location, coupled with the sustained demand for functional industrial buildings in the NE Columbia Corridor, came together to create a stable investment with long-term upside.”

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 the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Stockbridge 

Stockbridge (stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in Atlanta and Chicago. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of September 30, 2019, the firm’s total assets under management totaled approximately $15.9 billion.