PDX 5 Industrial Portfolio

JLL Industrial Capital Markets is pleased to present the opportunity to acquire the fee-simple interest in the PDX 5 Industrial Portfolio, comprised of Kittridge Distribution Center and Columbia Corporate Park, individually the “Park” or the “Property”, and collectively the “Properties” or “Portfolio”. The Properties are comprised of 5 Infill Class B distribution buildings totaling 298,512 SF and are 100% leased to 9 unique tenants with 3.8 years of weighted average lease term situated in two of Portland’s most infill industrial corridors.

Kittridge Distribution Center is comprised of 3 buildings built in 1996 featuring 16’ – 24’ clear heights, 28 dock doors, and 9 grade doors. Currently 100% leased to 6 tenants with a weighted average lease term of 3.0 years, the Park has strong historical occupancy of 98% over the last 20 years and features a high-profile tenant base with occupancy by Amazon (NASDAQ: AMZN, S&P: AA) in 19% of the Portfolio, or 56% of Kittridge Distribution Center. Amazon operates their Prime Now / Amazon Fresh business out of the Park which also features a specialized 15-20K SF build out of freezer / cooler space. Situated in the NW Guilds submarket, the Park is positioned within ideal proximity to the region’s largest transportation networks including proximity within just over 5 miles to the BNSF and Union Pacific Intermodals, the Port of Portland Terminal 2, I-5, and I-405.

Columbia Corporate Park is comprised of 2 buildings built in 2005. Notably, the Park features 24’ clear heights, recent capital improvements including roof replacements in 2023, and 800 amps of power to each building. Currently 100% leased to 3 tenants with a weighted average lease term of 4.2 years, the Park features recent tenant commitment from BlueLinx Corporation (NYSE: BXC), a leading distributor of building products for residential and commercial construction in the U.S. Taking their expansion option, and expanding to 42% of the Portfolio, has reaffirmed Portland as a key growth market for business operations. The Property’s infill location within the NE Columbia Corridor is ideal for airport proximity in under 7 miles, as well as access to I-205 and I-84 in just over 3 miles.

PDX 5 Industrial Portfolio presents an exceptional opportunity to acquire five infill distribution facilities in Portland’s most desirable industrial fairways. The multi-tenant profile of the Portfolio paired with its high-profile tenancy offers investors the opportunity to acquire over 298K SF of institutional-quality product located in proximity to major transportation arteries and a deep, growing talent pool—all at a significant discount to replacement cost.