PORTLAND, OR-Cushman & Wakefield has completed the sale of the Mason Street Corporate Park to Clarion Partners.
The two tenant, 134,000-square foot industrial building was owned by 16785 NE Mason Street LLC and purchased by a subsidiary of Clarion. The sale price was undisclosed.
“This transaction is significant in that it is the first institutional purchase of a fully stabilized, free-standing big box industrial property in the Northeast Portland submarket since 2009,” said Jim Lewis, director C&W's Portland-based Capital Markets team. “We had strong investor interest, and it shows that buyers are turning their focus to the Portland market after overlooking the market in favor of Seattle, San Francisco and Los Angeles over the last several years.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
