CBRE Arranges $22.3M Sale Of Riverside Industrial Park In Portland Industrial Complex

The Riverside Industrial Park is a two-building industrial complex located at 13422-13444 Northeast Jarrett Street & 13609-13625 Northeast Jarrett Street in Portland, OR. The property features a total square footage of 129,142 and was sold for $22,300,000, equating to a price per square foot of $173. The complex is partially leased, with an occupancy rate of 29%, and houses eight tenants operating in the logistics, construction supply, retail, and manufacturing sectors.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,300,000
• Market: Portland, OR
• Square Footage: 129,142
• Price per Square Foot: $173
• Broker Representatives: Brett Hartzell, Charles Safely, Eleanor Aschoff & Chris Reeves - CBRE

CBRE facilitated the sale on behalf of Ostling Group, representing the seller in the transaction. The buyer's identity remains undisclosed, and they acquired the partially leased property as part of their investment strategy in the industrial sector.