Norris & Stevens, Inc. recently brokered the $27,500,000.00 sale of Clackamas Business Center in Clackamas, Oregon. The sellers were limited partnerships controlled by Warren Family Properties, LLC, an Oregon Limited Liability Company, and the buyer was McLellan Estate Co., a California corporation. The transaction was closed as part of a 1031 exchange by the buyer.
Clackamas Business Center is a six-building, ± 196,499 sq. ft. multi-tenant industrial center located at 14863 SW 82nd Ave, Clackamas, Oregon. The center, built in 1978, was 99% leased at the time of sale. There are a total of 50 units in the park and tenants include Mattress World, Marion Construction, Portland Fruit, LLC, Harmony Kids, LLC and Portland Cider Company. The Property will be professionally managed by Norris & Stevens, Inc.
Scott Finney SIOR, Vice President , Industrial Properties, and Nicholas Chessar, Senior Broker, Industrial Properties of Norris & Stevens, Inc., represented the both the Buyer and Seller in the transaction.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs approximately 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 6.5 million square feet of commercial space and over 9,000 apartment units.