VALUE-ADD INVESTMENT OPPORTUNITY PRIME INDUSTRIAL ASSET
FOR SALE
115 SE YAMHILL STREET CONTACT
PETER STALICK 503.221.2272 [email protected]
STEVEN KLEIN 503.221.2260 [email protected]
KIDDER.COM
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. TABLE OF 01 CONTENTS EXECUTIVE SUMMARY Offering Overview
02 115 SE YAMHILL STREET PROPERTY Property Information Occupancy Overview Zoning Information Location Summary
01 EXECUTIVE SUMMARY
OFFERING OVERVIEW
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 5 VANCOUVER
PDX AIRPORT
COLUMBIA RIVER
115 SE YAMHILL STREET GRESHAM
PORTLAND
N
6 KIDDER MATHEWS OFFERING MEMORANDUM YAMHILL EXECUTIVE SUMMARY
111-115 SE YAMHILL STREET THE OFFERING PORTLAND, OREGON Kidder Mathews has been retained This property is located in Portland’s to market for sale this prime Central Eastside District in a prime industrial asset in the close-in location and is anchor tenanted restroom, small office and balance is Southeast Portland market which by one of the largest and most warehouse space with dock loading. is currently in “receivership”. This successful cannabis related property is currently 67.17% leased companies on the west coast (Cura This is an opportunity to purchase to one tenant. The tenant is Cura Cannabis). www.curacan.com. Cura a prime Central Eastside property Cannabis, the best-selling cannabis is the largest provider of cannabis asset with a strong lease in place for brand on the West Coast (CA,OR) oils in Oregon and California and a majority of the property and future and with aggressive growth in carries institutional quality credit. long term upside potential. This Nevada. Cura Cannabis occupies Cura occupies 67% of this property property is almost a full exclusive 19,440 SF including 6,440 SF of the which consists of 19,440 SF of city block at 34,412 SF and includes 2-story office. The remaining ±9,500 total space of which 6,440 SF is a 28,940 SF building. The balance SF is currently vacant. Given the beautifully remodeled 2 story office of the city block is owned by ODOT properties are in receivership, the space and the balance is very clean for the Eastbound off-ramp of the occupancy and leases are subject warehouse/production/distribution Morrison Bridge and this property to flexibility as the receiver works space. Cura does not “grow” on the benefits from a lease underneath through the process of disposition. property, this location serves as that off-ramp which provides their corporate headquarters and fenced/secured parking or storage The subject property could be sold primary packing and distribution behind the building. The property occupied with existing income, or facility. The balance of the building also features off-street parking and could potentially be sold vacant for (9,500 SF) is currently vacant but dock loading capability on three owner/user occupancy. is demised and lease ready with a sides of the building.
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 7
02 111-115 SE YAMHILL STREET PROPERTY
PROPERTY INFORMATION
OCCUPANCY OVERVIEW
ZONING INFORMATION
LOCATION SUMMARY
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 9 REVOLUTION HALL
AFURI IZAKAYA MORRISON BRIDGE LOYAL LEGION MONTAGE
SUBJECT PROPERTY
KACHKA
AFURI IZAKAYA
CLARKLEWIS BOKE BOWL
WILLAMETTE RIVER
WHITE OWL SOCIAL HAWTHORNE BRIDGE COAVA COFFEE
NORANEKO
HELIUM
OMSI
10 KIDDER MATHEWS OFFERING MEMORANDUM YAMHILL YAMHILL STREET PROPERTY OVERVIEW PROPERTY OVERVIEW Address 115 SE Yamhill Street, Portland, Oregon Prime Central Eastside location between 1st & Location 2nd and SE Yamhill Land Parcel Size 34,412 SF 28,940 SF including 6,440 SF niche remodeled Building Size SE MORRISON ST two story office space 1963 - Concrete tilt wearhouse Year Built 1990's - Concrete block office Loading 6 dock high doors SUBJECT PROPERTY Parking Off-street parking on south side of building SE BELMONT ST Two-story office is concrete block construction and Construction Type larger warehouse portion of building is concrete tilt construction Currently 67.2% leased on long term basis to Cura Cannabis (www.curacan.com) as the strong Income/Occupancy anchor tenant with one vacant leasable space of 9,500 SF. IG1 (General Industrial) and located in Central City Plan District with the “Employment Zoning Opportunity Subarea” (EOS) overlay which allows for “industrial office” providing future, long term upside potential.
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 11 12 KIDDER MATHEWS OFFERING MEMORANDUM YAMHILL YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 13 GOOSE HOLLOW NW DISTRICT
PEARL DISTRICT
CENTRAL BUSINESS DISTRICT OLD TOWN/ CHINATOWN
SOUTH WATERFRONT
WILLAMETTE RIVER
HAWTHORNE BRIDGE OREGON MORRISON BRIDGE CONVENTION
BURNSIDE BRIDGE BURNSIDE CENTER SUBJECT PROPERTY OMSI
PORTLAND STREETCAR
LLOYD DISTRICT
CENTRAL EASTSIDE BASE CAMP INDUSTRIAL DISTRICT BREWERY
BUCKMAN FIELD PARK
REVOLUTION HALL 14 KIDDER MATHEWS OFFERING MEMORANDUM YAMHILL ZONING AND PERMITTED USE OVERVIEW
There is one vacant space of 9,500 essentially provides the ability and SF at this property and the zoning testing, production, processing, flexibility to lease this building to is flexible and allows for a variety packaging or assembly of goods programming; graphic and users with 5% up to 100% office of uses. and products, which may include industrial design; engineers; related use so long as the use fits digital products such as internet architects; telecommunication within the "Industrial Office" zoning home pages, media content, service providers; data processing; code. design and specifications, computer television, video, radio, and internet ZONING software, advertising materials studios and broadcasting; scientific General Industrial (IG-1) City of and others. They primarily provide and technical services; and medical INDUSTRIAL OFFICE Portland. This zoning allows for a products to other businesses. They and dental labs. variety of light industrial uses and Industrial office uses are do not require customers or clients some office and retail uses. The characterized by activities that, while to visit the site; any such visits are Accessory uses may include property is also located in the cities conducted in an office-like setting, infrequent and incidental. cafeterias, health facilities, parking Central City Plan District. The E.O.S. are more compatible with industrial or other amenities primarily for Overlay - Employment Opportunity activities, businesses and districts. Examples of industrial office: the use of employees in the firm Subarea, provides more flexibility Their operation are less service- software and internet content or building. Accessory uses may for occupants at this property oriented than traditional office uses development and publishing; also include food membership including "Industrial Office" which and focus on the development, computer systems design and distribution.
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 15 AREA RETAIL
FOOD & DRINK
1 Water Avenue Coffee 26 Lardo
2 Noraneko 27 Kure Juce Bar 24 Stacked Sandwich 3 28 Taqueria Lal Merced 3 Shop
21 2 25 4 Burger King E BURNSIDE ST RETAIL 5 New Cascadia NE SANDY BLVD 1 Wildfang 6 Coava Coffee Roasters 22 1 2 2 Cargo 7 White Owl 23 3 Guardian Games 9 8 Afuri 4 Rejuvenation 9 Renata 6 3 5 River City Bicycles 10 Wasabi Sushi 7 6 Steven Smith Tea 5 11 Lucky Labrador Pub 17 18 7 Next Adventure Burgerville
SE 12TH AVE 12 SUBJECT 8 Eastside Distilling SE MORRISON ST PROPERTY SE GRAND AVE 13 Clarklewis Sheridan Fruit 8 9 Company 2 3 14 Boke Bowl 16 15 Bunk Bar Water 27 4 HOTEL 13 14 Hair of the Dog 16 Brewing Company 1 Jupiter Hotel 1 1 15 Jupiter NEXT 9 19 20 17 Le Bistro Montage 2 10 18 Dig a Pony 3 Eastside Lodge 2 6 7 Pips & Bounce SE HAWTHORNE BLVD 19 OTHER 11 Cascade Brewing 20 NE MLK BLVD 26 Barrell House 1 Ladd Circle 28 4 8 4 12 21 Rontoms Evolution Healthcare 3 2 & Fitness 22 Revelry 5 3 Revolution Hall 23 Wayfinder Beer 1 4 Helium Comedy Club Voodoo Doughnut 24 Too 25 Fire on the Mountain
16 KIDDER MATHEWS OFFERING MEMORANDUM YAMHILL AREA DEVELOPMENTS
NEARBY DEVELOPMENT AND USES
E BURNSIDE ST
OREGON SQUARE
TOWNE STORAGE FAIR-HAIRED DUMBBELL
SUBJECT 525 SE MLK BLVD SE MORRISON ST PROPERTY 7 SE STARK ST 514 SE BELMONT ST SE 20TH AVESE
ODOT BLOCKS NE MLK BLVD GRAND AVESE 12TH AVESE
SE HAWTHORNE BLVD THE GLASS LAB
CLAY CREATIVE
YAMHILL OFFERING MEMORANDUM KIDDER MATHEWS 17 EXCLUSIVELY REPRESENTED BY
PETER STALICK 503.221.2272 [email protected]
STEVEN KLEIN 503.221.2260 [email protected]
KIDDER.COM