Recent Acquisitions & Acquisition Criteria
In addition to property development and property management, Pacific NW Properties has been one of the most active buyers of commercial real estate in the Portland Metro Area over the years. PNWP is actively pursuing acquisitions of multi-tenant business parks, single-tenant industrial buildings, vacant industrial buildings, and well-located industrial land in the 2 to 15-acre size range for future development.
NEWBERG INDUSTRIAL PARK II
705 S. Springbrook Road, Building A
Newberg, OR 97132
NEWBERG INDUSTRIAL PARK II was purchased in 2Q24. Measuring approximately 28,800 square feet, this fully-leased modern vintage concrete tilt up warehouse located at 705 S. Springbrook Road in Newberg, Oregon is directly adjacent to Newberg Industrial Park I, which PNWP also owns and manages.
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FRANKLIN BUSINESS PARK IV
20050 SW 112th Avenue
Tualatin, OR 97062
FRANKLIN BUSINESS PARK IV was purchased in 2Q24. Measuring approximately 60,405 square feet, this well-located Tualatin industrial corporate headquarters building located at 20050 SW 112th Ave. in Tualatin, Oregon is sandwiched between Franklin Business Parks I, II and III, all of which Pacific NW Properties developed and currently owns and operates.
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KELSO I-5 WAREHOUSE
2680 Coweeman Park Drive
Kelso, WA 98626
KELSO I-5 WAREHOUSE was purchased in 2Q23. Measuring approximately 7,600 square feet with a large, paved and fenced yard, the building is located directly off of I-5 in the Kelso/Longview Washington market, directly adjacent to well-known corporate neighbors. This acquisition, coupled with the 55,000 square foot Ridgefield Industrial Park and the 33,000 square foot 112th NORTH Business Park, marks our third purchase in SW Washington since 2021.
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RIDGEFIELD INDUSTRIAL PARK
601 S. 74th Place
Ridgefield, WA 98642
RIDGEFIELD INDUSTRIAL PARK was purchased in 4Q22. Measuring approximately 54,876 square feet, the property is situated in the master planned Union Ridge industrial park, and offers a rare opportunity for a distribution or manufacturing company to occupy as a single-tenant headquarters building, or it can be divided to 26,000 square feet to accommodate multiple businesses. With Ridgefield’s proximity and easy access to I-5, business friendly environment, heavy investment in infrastructure, new housing, and high-quality corporate neighbors, we knew this was the next logical community and location to invest in for the future.
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Herman Road Industrial Park
12475 SW Herman Rd
Tualatin, OR 97062
HERMAN ROAD INDUSTRIAL PARK was purchased in 3Q22. Measuring approximately 44,320 square feet, this fully-leased project is strategically located in the heart of Tualatin at the signalized intersection of Herman Road and SW 124th Avenue. It marks our seventh project currently under ownership and management in Tualatin. Pacific NW Properties continues to pursue industrial acquisitions, including leased buildings, vacant buildings, and land for future development.
South Salem Business Park II Land
Fairview Industrial Drive
Salem, Oregon 97302
SOUTH SALEM BUSINESS PARK II LAND was acquired in 2Q22. Measuring approximately 6 acres, the site will house a two-building approximately 90,000 square foot light industrial business park. This is Pacific’s fourth property in Salem and validates our commitment to the mid-Willamette valley.
Newberg Industrial Park
705 S Springbrook Road, Buildings B & C
Newberg, Oregon 97132
NEWBERG INDUSTRIAL PARK was purchased in 4Q21. Composed of two buildings, measuring approximately 56,000 square feet, this fully leased project is strategically located in the heart of Newberg just off of Springbrook Rd and Highway 219.
Pringle Road Warehouse
2475 Pringle Rd SE
Salem, Oregon 97302
PRINGLE ROAD WAREHOUSE was purchased in 3Q21. Located at the corner of McGilchrist St. SE and Pringle Rd SE in South Salem, this free-standing approximately 10,500 square foot building offers functional warehouse and office space for lease to a single user tenant.
Greenburg Road Business Park
11211 and 11225 SW Greenburg Road
Tigard, OR 97223
GREENBURG ROAD BUSINESS PARK was purchased in 3Q21. Located near Washington Square at the signalized intersection of Greenburg Road and Tiedeman Avenue in Tigard, Oregon, this fully leased two-building project measures approximately 12,400 SF.
I-5 SOUTH
3350 Pipebend PI NE
Salem, Oregon 97301
I-5 SOUTH was purchased in 2Q21. Visible from I-5 in Salem, Oregon, this well-located distribution warehouse measures approximately 25,000 square feet and is located at the corner of State St. and Hawthorne Ave. just north of the Mission St. Costco. I-5 SOUTH offers functional industrial space for lease and complements our other Salem holdings, South Salem Business Park I & II.
112th North Business Park
11013 NE 39th ST
Vancouver, WA 98682
112th North Business Park was purchased in 2Q21. Well located just off of I-205 and the WA 500 interchange on the prominent corner of 112th Avenue and 39th Street in Vancouver, Washington, the building measures approximately 33,000 square feet and offers multi-tenant light industrial space for lease in the 4,000 – 30,000 square foot range. This is our 9th project in Vancouver, and we are fired up to carry out our planned major renovation and reposition of the asset, which will bring high quality space to the market to accommodate new and existing Pacific NW Properties tenants. 112th North Business Park is a great complement to our other nearby projects under ownership and management, such as 112th Ave. Business Park, 121st Ave. Business Park, Fourth Plain Business Park I and Fourth Plain Business Park II.
CORN PASS ANNEX
5160–5170 NE Five Oaks Drive
Hillsboro, OR 97124
CORN PASS ANNEX was acquired in 2Q20. Prominently located and highly visible from the freeway at the corner of Hwy 26/Sunset Highway and the Cornelius Pass Rd exit in Hillsboro, this Sunset Corridor gem measures approximately 25,000 square feet and offers space for lease in the 5,000 – 25,000 square foot range. Flexible zoning allows for a variety of uses, and the tall 24’ ceilings, climate-controlled warehouse, multi-fixture restrooms, and other infrastructure make it an outstanding option for a church, school, athletic, recreational, or traditional industrial use.
We are excited to be expanding our footprint in the Sunset Corridor with another high-quality and prominently-located asset. CORN PASS ANNEX is a great complement to our other nearby projects, such as Cornelius Pass Business Center, 26 NORTH Business Park, Sunset Highway Business Park I and II, Tanasbourne Business Park, Twin Oaks Business Park, and Cornell Road Business Park.
Leveton 99 Business Park
12935 SW Leveton Drive
Tualatin, OR 97062
LEVETON 99 BUSINESS PARK, purchased in 1Q20, is our latest industrial land acquisition and home to a future Pacific NW Properties speculative multi-tenant business park. This prime 4.35-acre corner lot is located on the west end of Leveton Drive just off of Highway 99W in the thriving Tualatin submarket. PNWP plans to develop a two-building, approximately 60,000 square foot multi-tenant, light industrial business park to accommodate tenants in the 3,000 – 16,000 SF+ range.
We are extremely excited to be expanding our footprint in Tualatin, Oregon – one of our favorite submarkets, which houses six other PNWP industrial parks and dozens of wonderful customers!
In addition to numerous recent acquisitions and speculative developments in Salem and Vancouver slated for 2020, Pacific NW Properties is actively pursuing acquisition of similar well-located, industrial land for future development, multi-tenant business parks, single-tenant industrial buildings, vacant industrial buildings, sale/leasebacks, and other acquisition opportunities.
Sunset Highway Business Park II
6103–6199 NE Casper Court
Hillsboro, OR 97124
SUNSET HIGHWAY BUSINESS PARK II (formerly known as PSI Business Park) was purchased in 4Q19. The prominent and highly visible two-building business park measures approximately 31,000 square feet and is located at the corner of Sunset Highway and the Brookwood/Helvetia exit in Hillsboro, Oregon, directly adjacent to Sunset Highway Business Park I, a four-building, approximately 108,000 square foot multi-tenant business park which we developed in 2009.
Based on the location and similar exterior, people presumed that we already owned (PSI Business Park), but after designing the shell about a dozen years ago, we actually sold the plans and decided that our phase one was enough square footage for the submarket at that time.
Fast forward to 2019, and while we wish our acquisition cost was based on 2009 pricing, we are extremely excited to pick up this “natural” addition to our portfolio – one that will provide much needed space for existing growing tenants, as well as new companies looking for high-quality, well-located light industrial property.
26 North Business Park
5537 NW Five Oaks Drive
Hillsboro, OR 97124
26 NORTH BUSINESS PARK, purchased in 4Q19, is our latest industrial acquisition. The project features an existing, fully-leased 150,000 square foot distribution center, as well as surplus developable land which will house a future PNWP multi-tenant business park.
Located on top of Sunset Highway (the north side of Hwy 26), just to the west of Century Drive in the thriving Hillsboro submarket, we decided to give this project an eye-popping, ‘can’t-miss-it-as-you drive-by’ paint job, inspired by one of our favorite shoes, the Air Max ’95, as well as paying homage to the early days of Pacific NW Properties where every one of our buildings had a teal stripe around it!
South Salem Business Park
SE Cascadia Industrial St. SE
Salem, OR 97302
SOUTH SALEM BUSINESS PARK — purchased in 3Q19 — is our latest industrial land acquisition and future speculative development. We are extremely excited to expand into the growing Salem market! PNWP will be developing a two-building, approximately 70,000 square foot multi-tenant light industrial business park to accommodate tenants in the 3,000 – 15,000 SF range on this prime 5.81-acre site just west of I-5 at the corner of Fairview Industrial Drive SE and Cascadia Industrial Street SE in Salem, Oregon.
South Salem Business Park is scheduled for a 1Q 2021 delivery date, and will accompany other planned PNWP developments slated for Hillsboro, Oregon and Vancouver, Washington.
Century Boulevard Land
NE Century Boulevard
Hillsboro, OR 97124
Century Boulevard is an approximately 1.91-acre industrial site which was purchased in 3Q19.
Fourth Plain Business Park II
6700 NE 152nd Avenue
Vancouver, WA 98682
Fourth Plain Business Park II is our latest industrial land acquisition and future speculative development. Following the recent success of Fourth Plain Business Park I (pictured), we are excited to develop an additional approximately 40,000 square foot light industrial, multi-tenant business park to accommodate tenants in the 3,000 – 20,000 SF range on this prime 2.5 acre site at the corner of Fourth Plain Blvd and 152nd Avenue in Vancouver, WA.
Fourth Plain Business Park II is scheduled for a 2020 construction start and will be the 75th building we will have developed in the Portland/SW Washington Metro Area since PNWP started in 1990.
Wilco Industrial Park
21256 and 21260 Butteville Road NE
Donald, OR 97002 (7 miles south of Wilsonville)
Wilco Industrial Park is a brand-new, big box industrial building constructed by Perlo is located just off of I-5 seven miles south of Wilsonville and measures approximately 240,000 square feet. It houses both a Wilco distribution center on one half, as well as a state-of-the-art processing facility for Hazelnut Growers of Oregon (HGO) on the other.
I-84 Corporate Center
819–1091 NW Corporate Dr
Troutdale, OR 97060
I-84 Corporate Center was acquired in 4Q17. Composed of four buildings totaling approximately 135,000 square feet, this dynamic, multi-tenant business park is located just off I-84 in the rapidly-expanding East Columbia Corridor/Troutdale submarket, next to the high-profile FedEx and Amazon facilities.
We are excited to expand our footprint in East County, with an addition to our portfolio which will complement our existing Airport Way and Gresham assets and provide additional high-quality space for our customers.
Twin Oaks Business Park
1800 NW 169th Place, Beaverton, OR 97006
Twin Oaks Business Park was acquired in 3Q16. Comprised of ten buildings encompassing approximately 166,000 square feet, this high-quality multi-tenant business park is located just off Highway 26 at the corner of NW Cornell Road and NW 169th Place in the thriving Beaverton/Sunset Corridor submarket.
We are excited to expand our footprint in the Sunset Corridor with an addition to our portfolio which will complement our existing Beaverton and Hillsboro assets as well as provide additional high-quality space for our customers.
Harvest Court Industrial Park
9700 SW Harvest Court
Beaverton, Oregon 97005
Harvest Court Industrial Park was acquired in 1Q16. Located just off of Arctic Drive and Harvest Court in the Beaverton/217 Corridor submarket, this high quality 76,500 SF multi-tenant industrial distribution building is 100% leased to several dynamic companies. We are excited to add this asset to our portfolio as it’s a great complement to our other Beaverton holdings and will provide highly functional larger bay space options for new and existing, growing PNWP customers.
TANASBOURNE BUSINESS PARK
20795, 20811 & 20827 NW Cornell Road
Hillsboro, OR 97124
Tanasbourne Business Park is a great addition to the Pacific NW Properties portfolio. This 113,000 square foot, multi-tenant business park located just off Cornell and Cornelius Pass Road in the Sunset Corridor was purchased in 2014 and joins a handful of other high quality multi-tenant business park space under ownership and management in Hillsboro.
MILWAUKIE BUSINESS PARK
4000-4160 SE International Way
Milwaukie, OR 97222
With over sixty spaces leased to a variety of local and national businesses, the 101,000 square foot Milwaukie Business Park, which we acquired in 2015 has been a terrific addition to the Pacific NW Properties Portfolio. Located just off Hwy 224 in the Sunrise Corridor in Milwaukie, this multi-tenant business park is located across the street from other PNWP holdings, including Minthorn Business Center and Hwy 224 Business Park.
181st Airport Way Business Center
18032-18066 NE Airport Way, Gresham, OR 97230
181st Airport Way Business Center was acquired in 3Q15. Located just off of I-84 and 181st/Airport Way in the thriving Southshore submarket, this high quality 19,200 SF light industrial/flex building is 100% leased to two great tenants, and has capability to be further divided and house up to four tenants in the future. We are excited to expand our footprint further east, with an addition to our portfolio which will complement our existing Airport Way projects and provide additional high quality space for our customers.
TUALATIN DISTRIBUTION CENTER
11885 SW Herman Road
Tualatin, OR 97062
This 40,000 square foot, single tenant industrial building was purchased as a sale/lease back in 2015. This great Tualatin property is our fifth project in Tualatin, a submarket we are actively increasing our footprint.
Please contact Evan Bernstein today at (503) 626-3500 or email him to discuss your next deal.