The market for industrial and warehouse space in Portland OR and the surrounding suburbs is extremely tight. Recently NAI Elliott broker Chris Lio worked with a user that needed more space so they could increase efficiency in their business.
Chris and his client scoured Portland and the surrounding area but, in the end, the opportunity came from a building that wasn’t on the open market. Even in a closed setting, where they weren’t dealing with the general public, they had to be extraordinarily aggressive.
They were able to put the building in escrow at a very aggressive price both for the space and for the commercial real estate market in general.
This worked well for Chris’ client because he was able to solve a problem and keep growing his business. They had a need for space and a particular type of facility and this building was the only one suitable within a 60 mile radius. With only one option, they were willing to do whatever it takes to make it work.