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Two Industrial Properties Sell in NE Area

PORTLAND-Two smallish deals illustrate transactions that are helping the

By Randyl J. Drummer | Updated on January 22, 2003

PORTLAND-Two small industrial buildings have sold in transactions that areunremarkable, except that they illustrate product types that are helping theindustrial market round the bend.

In the larger sale, Itel Trust of Portland bought a 20,000-sf building fromChicago-based First Industrial Realty Trust Inc. for $1.9 million. Thebuilding at 14626 NE Airport Way, Portland, is fully leased to SoundElevator. Itel Trust bought it as a leased investment, according to TrishaRaicht, client services manager with the Portland office of Grubb & Ellis.

In the second transaction, Tristate Construction Inc. bought a 17,000-sfbuilding at 5730 NE 138, Portland, from Anchorage-based Cook Inlet RegionInc. in a deal valued at $1.64 million.

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