Clarion Partners has sold Marine Drive Distribution Center, a 590,770-square-foot, four-building distribution center in Portland, Ore., to LBA Logistics.
The sales price was not disclosed.
Marine Drive Distribution Center comprises one single-tenant and three multitenant institutionally managed distribution warehouses. The state-of-the-art buildings feature ESFR sprinklers, 24- to 26-foot clear heights, 114 dock-high, 12 grade-level and 28 rail-served doors, along with ample parking. The buildings are triple-net leased to seven tenants.
The property is situated on approximately 27.3 acres in the Rivergate submarket at 6308–6310 and 6204–6210 N. Marine Drive and 7409–7433 and 7507–7517 N. Leadbetter Road. Marine Drive Distribution Center is less than two miles from the Port of Portland Terminal 6 and less than four miles from Interstate 5 providing regional access throughout the West Coast, including San Francisco, San Diego, Los Angeles and Seattle. In a
