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Industrial

Land - 17.95 Acres

600 International Way, Springfield, OR 97477

Listing Price: $8,209,971

Lot Size
17.95 acres
Price/Acre
$457,380
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to represent ownership in the sale of two well located land parcels in Springfield, Oregon, a northeast suburb of Eugene. The two adjacent land parcels are 12.07 and 5.88 Acres and are currently zoned industrial farm to keep real estate taxes low until development. Once ready for development and annexed into Springfield the zoning will change to Campus Industrial “CI”. Situated in the Lane County Industrial submarket of Eugene with over 31,475,000 square feet of industrial product this is a very tight industrial market, making it ideal for either speculative or build-to-suit opportunities. Currently there is only a 1.50% vacancy rate and very little new construction delivery projected for the foreseeable future according to CoStar market research. These factors also support a low projected vacancy going forward into 2028 of less than 3.00% and increasing rental rates forecasted to climb to near $11 per square foot for that same time period. The “CI” zoning classification aims to promote prime sites in a campus environment for large-scale light manufacturing firms and R&D complexes emphasizing modern technology. Corporate and regional headquarters may be permitted as part of a larger-scale light industrial use. Normal setback requirements are established for structures and maximum building height up to 45’ which allows for the high clear, modern light manufacturing or distribution facility for products manufactured in the “CI” District.

A build-to-suit FedEx Express facility is adjacent to the available acreage and is a strong testament to the absolute quality of this location with respect to such critical factors as short access to freeways and key surface streets, retail services and all other tenant needs. Their long established facility was strategically located by FedEx and is situated at the most efficient access point to their large customer base in the Eugene area, located just off Interstate 5 and Oregon Route 595.

The Eugene-Springfield MSA area is the 2nd most-populous in the state of Oregon behind Portland with an MSA population of nearly 385,000 people and is home to the massive University of Oregon. The University has almost 24,000 students enrolled in a broad range of curricula served by nearly 2,000 faculty and staff and is the largest single site employer in Eugene with an economic impact of $1.5 billion annually and a household earnings footprint alone of over $505 Million. Together with neighboring Springfield, the vibrant city of Eugene provides an unparalleled quality of life affirmed and enjoyed by residents and visitors alike. The University of Oregon, Bushnell University and Lane Community College provide a talented labor community and create significant job growth. Over the past three decades, Lane County has seen the area continue to develop major industry hubs within food and beverage manufacturing, health care, timber, and information technology fields. Lane County is expected to add 23,900 jobs between 2020 and 2030. This represents a 15% increase in employment. The private health care and social assistance sector is projected to add the second-largest number of jobs, gaining 4,700 jobs (18% growth) over the 10-year period. This growth is attributed to the aging of the state’s population, longer life expectancies, and continued population growth. Health care alone will account for nearly one out of every five new jobs created by 2030.

Investment Highlights

  • 17.95 Acres in Springfield, Oregon
  • Currently Zoned Industrial Farm - Once Annexed into Springfield Zoning will be Campus Industrial
  • Eugene-Springfield MSA the 2nd largest Population in Oregon
  • Eugene MSA 2023 Population of 382,831

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s) OR: 201224889

    Oregon

Industrial

Land - 17.95 Acres

Listing Price: $8,209,971

Lot Size
17.95 acres
Price/Acre
$457,380
Land Type
Land

Investment Highlights

  • 17.95 Acres in Springfield, Oregon
  • Currently Zoned Industrial Farm - Once Annexed into Springfield Zoning will be Campus Industrial
  • Eugene-Springfield MSA the 2nd largest Population in Oregon
  • Eugene MSA 2023 Population of 382,831

Investment Overview

Marcus & Millichap is pleased to represent ownership in the sale of two well located land parcels in Springfield, Oregon, a northeast suburb of Eugene. The two adjacent land parcels are 12.07 and 5.88 Acres and are currently zoned industrial farm to keep real estate taxes low until development. Once ready for development and annexed into Springfield the zoning will change to Campus Industrial “CI”. Situated in the Lane County Industrial submarket of Eugene with over 31,475,000 square feet of industrial product this is a very tight industrial market, making it ideal for either speculative or build-to-suit opportunities. Currently there is only a 1.50% vacancy rate and very little new construction delivery projected for the foreseeable future according to CoStar market research. These factors also support a low projected vacancy going forward into 2028 of less than 3.00% and increasing rental rates forecasted to climb to near $11 per square foot for that same time period. The “CI” zoning classification aims to promote prime sites in a campus environment for large-scale light manufacturing firms and R&D complexes emphasizing modern technology. Corporate and regional headquarters may be permitted as part of a larger-scale light industrial use. Normal setback requirements are established for structures and maximum building height up to 45’ which allows for the high clear, modern light manufacturing or distribution facility for products manufactured in the “CI” District. A build-to-suit FedEx Express facility is adjacent to the available acreage and is a strong testament to the absolute quality of this location with respect to such critical factors as short access to freeways and key surface streets, retail services and all other tenant needs. Their long established facility was strategically located by FedEx and is situated at the most efficient access point to their large customer base in the Eugene area, located just off Interstate 5 and Oregon Route 595. The Eugene-Springfield MSA area is the 2nd most-populous in the state of Oregon behind Portland with an MSA population of nearly 385,000 people and is home to the massive University of Oregon. The University has almost 24,000 students enrolled in a broad range of curricula served by nearly 2,000 faculty and staff and is the largest single site employer in Eugene with an economic impact of $1.5 billion annually and a household earnings footprint alone of over $505 Million. Together with neighboring Springfield, the vibrant city of Eugene provides an unparalleled quality of life affirmed and enjoyed by residents and visitors alike. The University of Oregon, Bushnell University and Lane Community College provide a talented labor community and create significant job growth. Over the past three decades, Lane County has seen the area continue to develop major industry hubs within food and beverage manufacturing, health care, timber, and information technology fields. Lane County is expected to add 23,900 jobs between 2020 and 2030. This represents a 15% increase in employment. The private health care and social assistance sector is projected to add the second-largest number of jobs, gaining 4,700 jobs (18% growth) over the 10-year period. This growth is attributed to the aging of the state’s population, longer life expectancies, and continued population growth. Health care alone will account for nearly one out of every five new jobs created by 2030.

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s): OR: 201224889

    Oregon

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