WILSONVILLE - NEXT

The interesting thing about this sale is that Tom took the Luminite Sign Building, located in Wilsonville, Oregon, out to market at a 5.8 cap rate or $96/SF. Both these were very aggressive numbers, even in 2005, for this product type. After receiving four offers on the property through their extensive marketing program; Tom closed this deal at a price that equated to $93/SF or a 6.3 cap rate! The final decision to be aggressive on pricing was the ownership’s but Tom felt comfortable with their asking price due to this properties location, retail potential and exposure, i.e. adjacent to Wilsonville Chevrolet. In the end, the market agreed and delivered a price and cap rate that were truly at the top of the market for industrial property in the Portland Metropolitan Area.