Colliers has arranged the sale of Meadowlark Industrial Center, an institutional-quality industrial facility in Cornelius, Oregon, for $30 million. The property, located at 404 N Holladay Street in Portland’s Sunset Corridor, totals 154,646 square feet on approximately 7.35 acres. It was completed in 2024 and is designed to support both traditional distribution uses and more specialized industrial operations.
The project features what Colliers describes as institutional-level specifications, positioning the asset for a range of modern industrial users. The sale is noted as representing one of the highest per-square-foot industrial trades recorded in Oregon, underscoring investor appetite for recently delivered, high-spec product in the Sunset Corridor.
Meadowlark Industrial Center is fully leased to Omega Morgan, a specialized heavy-equipment transport provider. The lease is structured on a long-term basis, providing in-place cash flow to the new owner and aligning the property with a single-credit industrial user focused on heavy-logistics operations.
Colliers assembled a multi-market team to complete the transaction. Vice Chair Mike Kendall, Executive Vice President Gian Bruno, Senior Vice President Nick Mascheroni, Senior Vice President Kenny Patricia and Associate Kylie Jones led the assignment. Vice Chair Jerry Matson, Senior Vice President Mike Thomas and Associate Vice President Karen Lisignoli provided local market support, while Executive Vice President Chris Johnson and Vice President Brett Johnson represented the buyer.
Gian Bruno commented that the transaction reflects the continued depth of capital targeting the Portland industrial market, highlighting sustained investor interest in well-located, modern logistics assets. The combination of recent construction, long-term tenancy by an established operator and a location within the Sunset Corridor contributed to the property achieving a benchmark pricing level for the state.
The buyer and seller were not disclosed, and no additional transaction terms beyond the purchase price were released. However, the closing adds another data point for institutional-caliber industrial trades in Oregon, particularly for fully leased, newly built assets in established distribution corridors serving the broader Portland metro industrial network.
