Norris & Stevens, Inc./TCN Worldwide recently brokered the $3,485,000.00 sale of Olds Business Park in Sherwood, Oregon. The Seller was OLDS BUSINESS PARK 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.
Olds Business Park is a ± 23,979 Sq. Ft. multi-tenant industrial center located at 20746 SW Olds Place in Sherwood, Oregon. The center, built in 2006, was 100% leased at the time of sale. Tenants include Barrier Pest Control, Cabinet Cures and Jiu Jitzu.
Scott Finney SIOR, Vice President – Industrial Sales, and Nicholas Chessar, Senior Broker 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 9,000 apartment units.