BEAVERTON, OR-Local investors John Neimeyer’s has found a place for the proceeds from the May sale of a building to Pamplin Communications Corp. Neimeyer’s Mainlander Investments has paid Frito-Lay $4.25 million for a vacant 111,000-sf warehouse here that it previously used to manufacture cookies and pretzels.

Neimeyer’s leasing broker for the property Kelly Rea tells GlobeSt.com that the 13.6-acre site at 5220 SW 112th St. can hold an additional 100,000 sf of buildings. The first order of business, however, is to lease the existing warehouse, which was used by Grandma’s Cookies and Rolled Gold Pretzels.

“Ideally, we lease it to a single user,” he says. “It has some interior partitioning that could be removed, but we are waiting to see if someone could use it as is.”

The property has been renamed the Allen 217 Business Park. The 20-foot-clear warehouse has over-standard parking and power, a large truck staging area and floor drains. The asking lease rate is $0.32 per sf per month.

Frito-Lay’s brokers Tom Talbot and Joe DeJager of GVA Kidder Mathews say the warehouse has been vacant since February. It was one of four manufacturing facilities Frito-Lay closed that month in favor of newer, more efficient plants. The other closed plants are located in Michigan, Iowa and Southern California.

“The land is the gravy in the deal,” GVA Kidder Mathews broker Tom Talbot tells GlobeSt.com. Talbot represented Frito-Lay along with his partner Joe DeJager.

In May, Neimeyer sold a three-story 43,000-sf building at 6605 S.E. Lake Rd. in Clackamas County that became the headquarters for Pamplin Communications’ newspapers and radio stations. The negotiated sale price was not revealed by the parties involved. According to Clackamas County records, Niemeyer acquired the property in December 2004 for $3.4 million.

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