Newmark recently facilitated the sale of a leased fee interest in Columbia Business Center, an expansive industrial site spanning 113 acres in Vancouver, Washington. The transaction set a new record for the highest total consideration paid for industrial land in the Portland/Vancouver market at $96 million.
The private family seller was represented by Newmark Vice Chairman Nick Kucha, Executive Vice Chairman Steven Golubchik and Associate Directors Kellen Kollmorgen, Jakob Nicholls and Grant Gooding. Colliers Vice Chairman Jerry Matson and Senior Vice President Brian Yoakum also played key roles on behalf of the seller.
According to Kucha, this sale presents a rare opportunity to acquire a large-scale industrial property in an area with limited available land for development. He expressed satisfaction with representing the sellers and achieving a successful outcome.
Originally established during World War II era as part of efforts to support military operations along the Columbia River, Columbia Business Center boasts unique features such as direct access to rail lines and barge slips that make it ideal for various transportation needs including distribution purposes.
This article originally appeared on Connect CRE.
