STAG Industrial Picks Up Portland Industrial Center

Recent renovations were completed at Beaverton Industrial Center. Image courtesy of Cushman & Wakefield

STAG Industrial has purchased Beaverton Industrial Center, a recently upgraded 121,426-square-foot industrial campus in Beaverton, Ore., for $20.6 million. Cushman & Wakefield negotiated on behalf of the seller, BKM Capital Partners. The property previously changed hands in 2021 for $15.4 million, according to CommercialEdge.

BKM Capital made several purchases in 2023. One major deal involved a 740,000-square-foot light industrial portfolio that the firm acquired for nearly $158 million in partnership with Investcorp.

A recently renovated industrial campus near Portland

The two-building industrial complex came online in 1966 at 5805 and 5807 SW 107th Ave. and underwent extensive renovations in 2021. The property features 28-foot clear heights, ESFR sprinkler systems, 23 dock-high doors, three grade-level doors and ample parking, the same source shows. The facilities were fully leased at the time of sale.

Beaverton Industrial Center occupies 6 acres off U.S. Highway 217, close to Interstate 5. The location is 7 miles from Portland, Ore., 19 miles from Portland International Airport and 20 miles from The Port of Portland.

Cushman & Wakefield Executive Vice Chairmen Jeff Chiate and Jeffrey Cole, Vice Chairman Bryce Aberg and Rick Ellison, Director Mike Adey, Senior Associate Zach Harman and Associate Brad Brandenburg represented BKM Capital Partners. The company’s Executive Managing Director Aaron Watt and Executive Director Keegan Clay also assisted with local market expertise.

In terms of industrial rent growth, the West scored significant increases as of June, maintaining its position as the priciest market, a recent CommercialEdge report shows. With the national rate up 7.4 percent year-over-year, Portland made it in top 10 markets by year-over-year change in average rents, with a 7.7 percent gain.