Expansion into Kelso/Longview for Pacific NW Properties

Following recent acquisitions in Vancouver and Ridgefield respectively, Portland, Oregon based commercial real estate operator Pacific NW Properties continued its surge into Washington State with a purchase of a third industrial building in the past 24 months. While on the smaller size side for Pacific, this well located asset now known as Kelso I-5 Warehouse was just too good to pass up. “While only 7,600 square feet, its unbeatable I-5 proximity, paved and fenced yard area, and well-known corporate neighbors make it a perfect fit for us,” exclaimed Mitch Page, a Senior Asset Manager who helped dig up the opportunity. “Entering the Longview/Kelso region provides synergy with our recent acquisition of the 55,000 square feet Ridgefield Industrial Park which is currently available for lease.”

“Its unbeatable I-5 proximity, paved and fenced yard area, and well known corporate neighbors make (Kelso I-5 Warehouse) a perfect fit for us!”

While the bulk of PNWP’s portfolio is located south of the river, they currently own and manage eight industrial projects in SW Washington and will continue to pursue strategic additions. “We like to cluster our properties together to accommodate growth opportunities for our tenants,” said Evan Bernstein, a Partner with Pacific NW Properties who leads their acquisitions. “This is just a toe in the water, and hopefully the first of many properties for our company in the Longview/Kelso area.”

The now-vacant Building was previously occupied by Puget Sound Pipe and Supply, Co. for many years. Eric Garske of Marcus & Millichap brokered the purchase and sale.