A joint venture between investment manager PCCP and developer Capstone Partners has sold the recently delivered 1 million-square-foot Mill Creek Logistics Center in Salem, Ore., to PNC Realty Investors, for $105.5 million. The build-to-suit fulfillment center located at 4775 Depot Court SE is leased by Amazon.
The development marked the sixth project between PCCP and Capstone.
PCCP is an established real estate investment manager with offices in New York, San Francisco, Atlanta and Los Angeles. The firm invests across the capital stack, from joint venture equity to senior and mezzanine debt and has approximately $9.4 billion of assets under management.
Capstone Partners is a leading developer in the Pacific Northwest and has offices in Portland and Seattle.
