SKB acquires a 168,048 square foot industrial building, located in Milwaukie, Oregon
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PORTLAND, Ore., April 22, 2021 /PRNewswire/ -- ScanlanKemperBard (SKB) has announced the acquisition of 2515-2517 SE Mailwell Drive, an industrial property situated on 6.7 acres of land in Portland's Milwaukie Industrial Submarket. The Mailwell property is well connected to Portland's Eastside, and located just off Oregon Route 99E, a major thoroughfare for the Portland metropolitan area.
SKB intends to implement a capital improvement program which will address deferred maintenance and improve overall functionality and marketability. In addition, SKB will embark on a rebranding effort to reintroduce the property to potential industrial and manufacturing tenants.
According to SKB President, Todd Gooding, "Mailwell is the seventh industrial investment in our portfolio. This acquisition continues SKB's long standing tradition of seeking out and investing in urban industrial assets, which cater to manufacturing tenants focused on advanced tech, food, life science and sports apparel."
SKB Vice President of Acquisitions, Brian Hughes-Cromwick, added, "We've already seen significant tenant activity on the Property from a diverse pool of advanced manufacturers and industrial users looking for functional space close to Portland's consumer and employment hubs, supporting our initial investment thesis."
SKB is an established real estate developer and operator based in Portland, Oregon. Since its inception in 1993, SKB has originated total portfolio activity of $4.7 billion, comprised of 30.5 million square feet of office, industrial and retail space and 2,154 residential units. With longstanding relationships in each of its markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities. Visit SKB online at www.skbcos.com to learn more.
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