January 17, 2020– JLL Capital Markets announced that it has closed the $16.2 million sale of a 126,303-square-foot distribution warehouse building triple net leased to Johnstone Supply at 11632 NE Ainsworth Circle in Portland, Oregon.
JLL marketed the property on behalf of the seller, Stockbridge.
11632 NE Ainsworth Circle is the global headquarters facility for Johnstone Supply, Inc, a privately held distributer founded in 1953 that trades in heating, ventilation, air conditioning and refrigeration (HVACR) equipment. Built in 1991 – and occupied by Johnstone Supply ever since – the facility features a 24-foot clear height, 18 dock-high doors, one grade-level door with drive-in capabilities, ample parking and office space. 11632 NE Ainsworth Circle is in the NE Columbia Corridor Submarket in an infill location with convenient access to regional, national and international transportation networks. It is less than two miles from Portland International Airport and seven miles from Troutdale Airport, in addition to being 11 miles from the Port of Portland’s Terminals Two, Four, Five and Six. Additionally, the property is less than one mile east of Interstate 205 and less than two miles from both the I-205/I-84 and I-205/SR-30B interchanges.
The JLL Capital Markets team representing the seller was led by Managing Directors Mark Detmer, Bo Mills and Buzz Ellis; Senior Director Ryan Sitov; and Director Adam Taylor.
“11632 NE Ainsworth presented a compelling opportunity for institutional buyers of industrial real estate,” Ellis said. “Johnstone Supply’s commitment to the location, coupled with the sustained demand for functional industrial buildings in the NE Columbia Corridor, came together to create a stable investment with long-term upside.”