At their ground-breaking ceremony of South Salem Business Park I in summer of 2020, Pacific NW Properties’ Director of Leasing & Acquisitions, Evan Bernstein promised to a sea of 75 mask-wearing attendees over a megaphone that “we’re just getting started in Salem!” Fast forward to springtime of 2022, and Pacific has fulfilled its promise of continued investment into the capital city with its fourth property acquisition in less than two years.
Coming off the heels of successful existing building acquisitions and major repositions of I-5 SOUTH and Pringle Road Warehouse, as well as the completion of South Salem Business Park I, a speculative two-building project measuring approximately 70,000 square feet and currently 90% leased, in early April, Pacific closed on its next project, a 6-acre site directly adjacent to South Salem Business Park I.
“We’re over the moon to pick up approximately 6 acres of prime industrial land which will be home to our next speculative development, South Salem Business Park II,” stated Brad Stern, Pacific’s Director of Development.
Pacific NW Properties, who own and manage about 100 buildings in Oregon and SW Washington strategically cluster their properties together, which was a big driving force in their pursuit of a bit of critical mass in Salem.
“We pride ourselves in having outstanding and long-lasting relationships with our tenants,” said Bernstein. “One way we’re able to keep customers in our portfolio for so long is our ability to accommodate their changing space needs over time within our properties.”
South Salem Business Park II is located just off of Fairview Industrial Drive with great access to I-5 and downtown Salem.
For more info on Pacific’s acquisition criteria, please visit www.pnwprop.com