PORTLAND, OR—Amstar Advisers, on behalf of one if its public retirement system clients, has executed a ten-year lease with Hill Country Holdings, one of the largest independent owners of Ashley Furniture Homestores, at Cameron Distribution Center.
Cameron Center is a 320,795 square foot class A cross-dock distribution facility in the Airport Way submarket of Portland.
Cameron is a 320,795 square foot class A cross-dock distribution facility with 32' clear heights located in the Airport Way submarket of Portland. Amstar Advisers and development partner Holland Partner Group acquired the 20-acre development site in October 2014 and completed construction of the building in November 2015. The property, located off of Cameron Boulevard, is less than seven miles from Portland International Airport and provides great access to the I-205 and I-84 freeways. Ashley Furniture will lease 53% of the building and will take occupancy immediately following completion of its tenant improvements in 2Q-2016.
“Amstar Advisers is pleased to have a strong firm in Hill Country Holdings commit to Cameron Distribution Center on a long-term basis. Its expansion in the Pacific Northwest is a testament to the strong growth in fundamentals we are observing in the Portland market,” said Amstar Advisers Managing Director Bobby Ghiselli.
“Cameron Distribution Center is a class A industrial facility designed to accommodate both large distribution requirements for firms like Hill Country Holdings, as well as smaller distribution and manufacturing firms ranging from 50,000 to 85,000 square feet,” said Tom Parsons, president of Holland Development.
Tyler Scheils of JLL represented the tenant in the transaction. Tom Talbot of Kidder Mathews represented the landlord.
Amstar Advisers, a registered investment adviser with the SEC, is a private real estate investment manager headquartered in Denver. Through direct investments and joint venture partnerships, Amstar Advisers acquires, develops and manages all major property types in the United States. Amstar Advisers' focus is on acquiring under-performing properties or developing high quality properties that deliver value-add and opportunistic returns for its institutional clients.
Holland Partner Group is a fully-integrated real estate investment company based in Vancouver, WA, with over $4 billion in gross real estate value currently under management, representing over 24,000 apartment homes in five states. Its operates five integrated operating companies, focused on development, construction, acquisition, redevelopment and management.
Hill Country Holdings, one of the largest independent owners of Ashley Furniture Homestores, operates 24 stores throughout Texas and the Greater Seattle and Portland areas.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
