Padden Commerce Park_Property for Sale
Padden Commerce Park_Property for Sale
11700-12016 NE 95th Street | 11711-12121 NE 95th Street | 9609-9611 NE 117th Ave, Vancouver, WA, 98682, US

Padden Commerce Park

Asset Description

JLL is pleased to present the opportunity to purchase the fee simple interest in Padden Commerce Park (the “Property”), a ±406,447 square foot multi-tenant business park offering light industrial, office, and retail space located in Vancouver, WA, Portland's fastest growing suburb. The Property is comprised of 25 buildings on 23 tax parcels and is currently 91.4% leased to a diverse tenant base with 3.28 years WALT remaining. The Property presents a compelling opportunity to own a critical mass of multi-use product in a growing submarket. With rents 19.8% below market, the Property offers investors the ability to add immediate and material value as vacant spaces are leased and below-market tenants are rolled to market.

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Attributes

Building area net
406,447 sf
Number of units
25 units
Land area gross
30.89 acres
Zoning
Light Industrial
Year built
1979
Year renovated
2006

Media

Investment Highlights

  • Diversified tenant base
  • Near term value-add opportunity
  • Consistent tenant demand
  • Flexible leasing options
  • Mark-tom-market opportunity
  • Optionality on exit
  • Attractive basis relative to replacement cost
  • Significant investment reduces future capex
  • Growing population drives increases in residential, retail, and office demand

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Padden Commerce Park (0 Properties)

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Last updated
19 Jun 2024