RCN Corp. Unloading Four Portland-Area Facilities

PORTLAND-RCN Corp. is disposing of three buildings and a leasehold in Portland as it retrenches in the midst of an economic slowdown. In addition to the 45,000-sf facility it purchased last year in Hillsboro, the telecom company’s real estate director Craig Fausner tells GlobeSt.com it recently sold another property in Downtown Portland and also has an industrial building on Northeast Lombard and an industrial leasehold along Airport Way that it’s looking to unload.

The Downtown property, an 8,900-sf building at 521 SW Stark, was sold for $550,000. Insiders say the buyer, RLH Properties Corp., should be happy as a clam. Indeed, Oregon Title records show RCN acquired the property last year for $750,000.

The largest property on the market is a 45,000-sf build-to-suit facility in Panattoni’s Cornelius Pass Corporate Center. Located at 2480 229th Ave., the asking price is $3 million, says Fausner, which is what the company paid for the property last year.