Hidden Glen

JLL Industrial Capital Markets is pleased to present the opportunity to acquire the fee-simple interest in Hidden Glen, the “Property” or “Project” – a newly constructed, Class A distribution facility totaling 283,783 square feet in Vancouver, WA. Strategically situated along NE St Johns Street, the Property sits just 2.4 miles between both I-5 and I-205 corridors. The Property’s location in Vancouver, WA yet within the Portland MSA, offers tenants the ability to capitalize off tax advantages in both Washington and Oregon. Hidden Glen’s proximity to Portland’s key transportation networks and distribution channels ensures direct access to the entire Pacific Northwest Region.

Built in 2024, Hidden Glen features best in class attributes including 36’ clear heights, 61 dock high doors, 3,000 amps of power, and 1.97 acres of excess yard area with capacity for 78 trailer stalls, a highly sought-after amenity rarely available for new product in this submarket. The Property is 100% leased to Southland Industries with 5.8 years of weighted average lease term*. Initially leasing 43% of the building for a 10-year term, Southland Industries has recently expanded into the remainder of the building on a 3-year lease term—demonstrating strong tenant commitment. Given the staggered rollover profile, Hidden Glen offers investors long term, in-place cash flow, but also near term mark-to-market upside, typically not available in offerings leased to only one tenant.

Situated in the Clark County submarket, Hidden Glen sits in one of Portland’s best performing industrial submarkets, which has seen significant tenant demand for Class A product as reflected in the submarket’s average total vacancy of only 4.6% over the last 10 years, 64% direct rent growth since 2020, and 835K SF of net absorption year-to-date. The Project’s ideal suite sizes between 100K – 160K SF represent the most active size tranche for all leasing activity in Portland the past 12 months, mitigating potential backend lease up risk and further proving out demand in the Clark County submarket.

Hidden Glen represents an exceptional opportunity to acquire a brand-new, 100% leased asset offering long-term cash flow, near-term mark-to-market upside institutional-quality features, and excess yard area, all in an ideal location situated between I-5 and I-205. The Project is further supported by a substantial population base, with impressive 23% growth since 2010 within a 10-mile radius and a diverse labor pool mix of 19% blue-collar and 65% white-collar workers.