{"id":1004717089,"date":"2024-06-13T04:10:21","date_gmt":"2024-06-13T12:10:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004717089"},"modified":"2024-06-13T04:10:23","modified_gmt":"2024-06-13T12:10:23","slug":"fedex-distribution-facility-in-portland-commands-33m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/","title":{"rendered":"FedEx Distribution Facility in Portland Commands $33M"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004717091\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/portland-industrial-asset-brokered-by-be\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"6447 N. Cutter Circle in Portland\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;6447 N. Cutter Circle in Portland. Image courtesy of B+E&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg?w=800\" alt=\"6447 N. Cutter Circle in Portland\" class=\"wp-image-1004717091\" style=\"width:353px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">6447 N. Cutter Circle in Portland, Ore. I<em>mage courtesy of B+E<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A Class A warehouse and distribution facility in Portland, Ore., sold for $32.5 million. The 212,000-square-foot asset, Cutter Circle FedEx facility, is fully occupied by FedEx.<\/p>\n\n\n\n<p>Gantry secured a $16.3 million acquisition loan on behalf of the new owner. The property&#8217;s seller is a family office. The long-term, fixed-rate loan is half-term interest only, followed by a 30-year amortization period. It was secured through one of Gantry\u2019s correspondent life company lenders.<\/p>\n\n\n\n<p>The buyer of the Cutter Circle FedEx facility is HCA Management, according to CommercialEdge data. The lender is State Farm.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/higher-for-longer-accepting-reality-in-cre\/\" target=\"_blank\" rel=\"noreferrer noopener\">Higher for Longer: Accepting Reality of CRE<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Redeveloped in 2015, the industrial building is a cross-docked facility. It features 126 doors on an approximately 22-acre lot, the same data shows.<\/p>\n\n\n\n<p>Located at 6447 N. Cutter Circle, the asset is situated in the Swan Island industrial submarket. Tenants are in proximity to the Port of Portland, Interstate 5, Union Pacific Railroad and the Portland International Airport. Downtown Portland is within approximately 6 miles from the property.<\/p>\n\n\n\n<p>Camille Renshaw, Scott Scurich and William Brooks with B+E procured the buyer and represented the seller in the transaction. Gantry San Francisco\u2019s Tony Kaufmann, principal, and Joe Foley, associate, represented the borrower in the deal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gantry-makes-lending-moves\">Gantry makes lending moves<\/h2>\n\n\n\n<p>Gantry, the largest independent commercial mortgage banking firm in the U.S., has had a busy year thus far with lending. In the first quarter, the privately held firm provided a <a href=\"https:\/\/www.commercialsearch.com\/news\/urban-catalyst-recaps-san-jose-mixed-use-site\/\" target=\"_blank\" rel=\"noreferrer noopener\">$10.5 million bridge loan<\/a> for a mixed-use redevelopment project in San Jose, Calf. The San Francisco production office represented the borrower in the deal.<\/p>\n\n\n\n<p>Gantry\u2019s Kaufmann and Foley also led the team that secured the refinancing of <a href=\"https:\/\/www.commercialsearch.com\/news\/libitzky-property-cos-lands-30m-refi-for-phoenix-industrial-park\/\" target=\"_blank\" rel=\"noreferrer noopener\">a pair of adjacent industrial campuses in Tempe, Ariz.<\/a>, earlier this year. The eight-year loans amounted to $30 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gantry secured the acquisition financing through State Farm.<\/p>\n","protected":false},"author":3006,"featured_media":1004717091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,28440,15],"tags":[43739,51763],"class_list":["post-1004717089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-portland","category-west","tag-be","tag-gantry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FedEx Distribution Facility in Portland Commands $33M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Gantry secured a $16.3 million loan for the acquisition of the Cutter Circle FedEx facility, a Class A industrial asset in Portland.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FedEx Distribution Facility in Portland Commands $33M\" \/>\n<meta property=\"og:description\" content=\"Gantry secured a $16.3 million loan for the acquisition of the Cutter Circle FedEx facility, a Class A industrial asset in Portland.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T12:10:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T12:10:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/portland-industrial-asset-brokered-by-be.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/fedex-distribution-facility-in-portland-commands-33m\/\",\"name\":\"FedEx Distribution Facility in Portland Commands $33M - 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