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Mason Waite Acquires Columbia Commerce Park In Portland For $62.7M
SOLD
$62,700,000
Oregon
See Similar DealsIndustrial375,429 SF
Sold 06/24/2024
SOLD
Mason Waite Acquires Columbia Commerce Park In Portland For $62.7M
5743 Northeast Columbia Boulevard
See Similar DealsIndustrial375,429 SF
Sold 06/24/2024
Summary
OREGON
Asset Type:Industrial
Price Per Square Foot:$167
Total Square Footage:375,429 SF
Transaction Type:Sale
The industrial property involved in the transaction is Columbia Commerce Park, a 375,429 sq. ft. light industrial park located at 5743 Northeast Columbia Boulevard in Portland, OR. The property was acquired by Mason Waite - BKM Capital Partners for a total sale price of $62,700,000, equivalent to $167 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $62,700,000
- Buyer: Mason Waite - BKM Capital Partners
- Address: 5743 Northeast Columbia Boulevard
- Market: Portland, OR
- Square Footage: 375,429
BKM Capital Partners, the buyer in this transaction, has plans to invest nearly $3 million in upgrades for Columbia Commerce Park in order to attract high-quality tenants. The property is currently 93% leased and is situated in Portland's Airport submarket.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,343,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$222,759.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$297,229.99
Annual Debt Service$3,566,759.86
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