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Oregon’s Largest Single-Phase Spec Industrial Site Sells for $93M

Vista offered Black Creek Group the rare opportunity to invest in a large newly built industrial project in the closely held Portland market, along with in-place income and the ability to add near-term value via lease-up.

Vista Logistics Park The three-building 733,232-square-foot industrial campus is located in the Northeast Columbia Corridor.

GRESHAM, OR—Completed in 2017, Vista Logistics Park is the largest single-phase speculative industrial development project built in Oregon to date. The three-building 733,232-square-foot industrial campus is located in the Northeast Columbia Corridor of Portland, and recently sold for $93.25 million.

A team of CBRE professionals including Paige Morgan (Portland), Brett Hartzell (Seattle), Darla Longo, Eric Cox, Barbara Perrier, Val Achtemeier (Los Angeles) and Rebecca Perlmutter-Finkel (San Francisco) represented the seller, Madison-Specht Vista Logistics LLC, a joint venture between an institutional investor and Portland-based Specht Development. The buyer was Denver-based Black Creek Group.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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