Frito Lay Completes Warehouse Sale-Leaseback

PORTLAND-As part of its eventual consolidation into a new 80,000-sf warehouse it is having built in Southshore Corporate Park, Frito Lay has sold and leased back temporarily a 15,000-sf warehouse on 14 acres near the Parkrose Business Center in Northeast Portland.

The buyer, Capital Electric Co, paid $1.25 million for the property, and leased it back to Frito until their new facility is completed later this year. After that, Capital Electric plans to move its operation to the property from leased space in the Columbia Pacific Industrial Park. Capital Electric is owned by Darrell McNeel.

“(Capital) is a successful company looking at potential expansion and desiring an ownership position,” Tony Reser, the Cushman & Wakefield broker who represented Capital, tells GlobeSt.com. “It’s located in a very desirable location and it allows them room to grow and have yard area for their vans.”