TUALATIN, OR—The Teton Industrial Building, a100,000 square foot industrial property comprised of a single-story building, has been acquired by Harsch Investment Properties, a privately-held real estate investment, development and management company.
The building, at 20495 SW Teton Avenue in Tualatin, long occupied by Stanton Furniture, is an ideally located manufacturing and distribution building in a prime industrial area. Located a quarter-mile south of Tualatin/Sherwood Road at Teton Avenue, the property includes a substantial amount of parking and a fenced yard area along with ample power.
"The Tualatin industrial market is a premier location for manufacturing and distribution in the Portland metropolitan area. We are pleased to add this very functional building to our portfolio,” said Jordan Schnitzer, president of Harsch.
Company officials say they will immediately begin renovations to include roof improvements, painting, parking lot and landscape upgrades, warehouse lighting upgrades, and yard area re-grading.
“We are very excited to acquire an asset in the very strong and growing Tualatin submarket,” added Steve Roselli, senior vice president and regional manager. “We have been looking to acquire in this submarket for some time, and we thank Stu Peterson of Macadam Forbes for bringing this opportunity to our attention.”
Founded in 1950, Harsch Investment Properties owns and operates 22 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland Harsch has regional offices in Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego.
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