B+E, a leading investment brokerage firm specializing in net lease real estate, recently announced the successful sale of a highly sought-after FedEx Ground distribution facility located in Portland’s Swan Island Industrial Park. The property sold for an impressive $32.5 million and sets the benchmark cap rate for FedEx properties through 2024.
The seller was represented by B+E while the buyer was procured by two family offices. According to William Brooks, Associate Director at B+E, “We are thrilled to have achieved this outcome on behalf of our client despite challenges such as rising interest rates and a short remaining lease term.” He also added that their competitive bidding process resulted in multiple offers which further demonstrates the strong demand for quality net lease industrial assets like this one.
This recent transaction marks another success story for B+E as they continue to excel in brokering high-value deals within the commercial real estate market.
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