Invesco Real Estate has acquired the three-building, 673,977-square-foot Oregon Transfer Portfolio, located in Portland, Ore.
CBRE was the seller.
“The Portland industrial real estate market is experiencing historically low vacancy rates and rapidly accelerating rent growth due to the rise of e-commerce and its overall attractiveness as a destination for companies and young professionals,” stated Paige Morgan of CBRE. “There is little new construction expected in the foreseeable future for this product type due to the limited available land and increasing land and construction costs making this an attractive investment.”
“Portland is predicted to have future job growth of 41.2 percent over the next 10 years,” added CBRE’s Hartzell. “Strategically located to a diverse labor force, the portfolio offers excellent dock loading, rail loading, 24-foot to 40-foot clear heights and valuable cooler improvements across all three buildings.”
The po
