Weston Holding Co. Lands Jantzen Property for $7.8M

PORTLAND-Locally based Weston Holding Co. last month acquired the 5.2-acre Jantzen Inc. compound in close-in northeast Portland for $7.8 million. The property consists of three buildings totaling 164,000 sf, all of which are leased by swimwear manufacturer Jantzen Inc.

The seller was VF Corp., which sold Jantzen Inc. to Perry Ellis International for $25 million in March 2002. Local real estate sources say Perry Ellis was out in the market looking for a new location for Jantzen Inc. several months ago, but ultimately opted to stay put, either through a new lease or a lease extension. Neither Joe Weston nor Weston employee Keith Vernon returned phone calls seeking comment on the term of the lease but, given the economy, it is unlikely anybody would re-sign for a term of less than five years and it’s unlikely an owner would allow a lease any longer.