With a location of “main and main” in arguably the strongest industrial market in the Portland Metro, (what’s now rebranded as) Herman Road Industrial Park was a natural addition to the Pacific NW Properties’ portfolio. Following a sale of commercial zoned land near the Portland International Airport, Pacific carried out a 1031 Exchange and purchased the fully leased 44,320 square foot industrial building located at the signalized intersection of Herman Road and SW 124th Avenue.
“We love the location,” stated Evan Bernstein, a Partner and Director of Acquisitions at Pacific NW Properties. “Herman Road Industrial Park now marks seven properties under ownership and management in Tualatin, and we plan to continue investing here.” The expansion of SW 124th which now runs from Highway 99 to Wilsonville (I-5) has helped alleviate congestion in Tualatin, and its proximity to Lake Oswego, its population growth and its access to the I-5 South Corridor continue to make Tualatin an appealing submarket for industrial companies to call home.
Pacific plans to upgrade the facility this summer as part of their asset reposition. For additional information on this project and to learn more about Pacific NW Properties, please visit https://pnwprop.com/properties/portfolio/
For more information on this acquisition and others, please visit: