2018 Industrial sales bounce back in Portland
January 31, 2019
- The lack of available industrial properties for sale weighed heavily on capital markets in 2017. Sales above $10 million fell 60 percent, with only 6 sales above $10 million.
- After 2017’s sales slump, Portland industrial sales more than doubled in 2018 to $412 million with 16 sales larger than $10 million, the same number as in 2016.
- The largest sale came late in the year when Albertons's sold their distribution center in Gresham as part of a 3 market sale-leaseback portfolio to RREEF for an allocated value of just under $89.5 million.
- The retail giant’s sale of their distribution center marks an interesting trend that has occurred in the past year. Their subsidiary, Safeway, also sold their facility in Clackamas at the end of 2017 and both Staples and SuperValu sold and leased back their distribution centers at the end of 2018.
Source: JLL Research