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Office Warehouse

Hillsboro Industrial

5968 SE Alexander St, Hillsboro, OR 97123

Listing Price: $2,300,000

Cap Rate
3.63%
Gross SF
12,795
Price/Gross SF
$179.76
Lot Size
0.86 acres
Year Built
1999
Rentable SF
12,795

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale Hillsboro Industrial, a rare industrial asset located in rapidly growing Hillsboro, OR. The building was built in 1999 and features high-quality concrete tilt-up construction and a brand new 60 Mil TPO roof installed in 2019 with a transferable 20-year warranty. The Property is currently leased to three separate tenants, all paying below market rents and with lease expiration dates within five months of each other in 2023 and no options to extend. The short term leases and below market rents create an immediate value add opportunity or ideal situation for an owner user to occupy one or more of the spaces within the coming months. The property is located in a strong industrial market with low historical vacancies and quick access to Tualatin Valley Hwy. Within the last decade, the population within a 1-mile radius of the subject Property has increased by over 26%.

Investment Highlights

  • VALUE-ADD OR OWNER/USER OPPORTUNITY
  • HIGH-QUALITY CONCRETE TILT-UP CONSTRUCTION
  • NEW TPO ROOF WITH TRANSFERABLE 20-YEAR ROOF WARRANTY
  • VERSATILE CONFIGURATION
  • LOW VACANCY (2.7%) SUB-MARKET
  • STRONG SUB-MARKET RENT GROWTH
  • STRATEGIC INDUSTRIAL LOCATION
  • AFFLUENT, HIGH-GROWTH SUB-MARKET

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (503) 200-2000

    License(s) OR: 201209561

    Oregon

Office Warehouse

Hillsboro Industrial

Listing Price: $2,300,000

Cap Rate
3.63%
Gross SF
12,795
Price/Gross SF
$179.76
Lot Size
0.86 acres
Year Built
1999
Rentable SF
12,795

Investment Highlights

  • VALUE-ADD OR OWNER/USER OPPORTUNITY
  • HIGH-QUALITY CONCRETE TILT-UP CONSTRUCTION
  • NEW TPO ROOF WITH TRANSFERABLE 20-YEAR ROOF WARRANTY
  • VERSATILE CONFIGURATION
  • LOW VACANCY (2.7%) SUB-MARKET
  • STRONG SUB-MARKET RENT GROWTH
  • STRATEGIC INDUSTRIAL LOCATION
  • AFFLUENT, HIGH-GROWTH SUB-MARKET

Investment Overview

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale Hillsboro Industrial, a rare industrial asset located in rapidly growing Hillsboro, OR. The building was built in 1999 and features high-quality concrete tilt-up construction and a brand new 60 Mil TPO roof installed in 2019 with a transferable 20-year warranty. The Property is currently leased to three separate tenants, all paying below market rents and with lease expiration dates within five months of each other in 2023 and no options to extend. The short term leases and below market rents create an immediate value add opportunity or ideal situation for an owner user to occupy one or more of the spaces within the coming months. The property is located in a strong industrial market with low historical vacancies and quick access to Tualatin Valley Hwy. Within the last decade, the population within a 1-mile radius of the subject Property has increased by over 26%.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (503) 200-2000

    License(s): OR: 201209561

    Oregon

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