I-205 Business Complex FOR SALE


Portland, OR - Gateway
$8,700,000 USD
503-724-3540
, Portland, OR for Sale
$8,700,000 USD
FOR SALE
1/15
null | 7.01% Cap Rate

I-205 Business Complex
Portland, OR
Gateway


HIGHLIGHTS

  • Central regional location within 2 blocks of Interstate 205 access
  • Located within City of Portland designated Gateway Regional Center
  • 100% leased to multiple tenants and uses creating a favorable diverse income stream
  • 95% of the tenancy has occupied the property for at least 25 years
  • Existing contract rent averages approximately 25% below market with the largest tenant near 40% below market
  • Opportunity for initial steady income stream with mid-to-long term income/value upside

OVERVIEW

The I-205 Business Complex is a multi-building, multi-tenant property with a mix of industrial, flex, office/service, and retail tenants. Its east Portland location is very central and accessible for the Portland/ Vancouver metro region, within two blocks of a major Interstate 205 interchange. This location is also within the Gateway Regional Center, the City of Portland’s only designated regional center and is targeted to receive a significant share of the city’s growth. The property is anchored by two larger, long-term tenants, Automotive Industrial Marketing Corporation (AIMCO) and Mor Furniture for Less (Mor Furniture). These companies (or related entity) have occupied 95% of the project for more than 25 years, with leases for most of this space extending into 2028 and beyond. Two smaller office/service tenants occupy the balance of the project, located within a multi-tenant office/service pad building fronting SE Start Street. The I-205 Business Complex has a long history of effectively full occupancy providing a strong, diverse, and reliable income stream. Existing contract rents are well below current market rents, providing the potential for dramatic income and value upside over time.

ASK ABOUT THIS PROPERTY

David HillKidder MathewsMore Info
503-724-3540

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David HillKidder MathewsMore Info
503-724-3540

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.