May 20, 2021
NORRIS & STEVENS, INC. BROKERS $1.3M LEASE IN PORTLAND, OREGON
Sunbelt Rentals, Inc. recently completed the $1,387,759 lease of the Madrona Avenue Building located at 2465 Madrona Ave SE in Salem, Oregon.
The Madrona Avenue building is a industrial single tenancy facility with 13,755 square feet situated on 4.47 acres. Located next to Stone Quarry Lake at the cross streets of Madrona Ave SE and 25th St SE, the building features a saw-tooth daylight roof, 3-Phase/1,000 amp power, and five 18’ drive-through doors.
Sunbelt Rentals is a North American equipment rental company offering a highly diversified product mix to both consumers and contractors. The Madrona Avenue building will be their 10th location in the state of Oregon.
Nick Chessar with Portland-based Norris & Stevens, Inc. represented the tenant, in the transaction. Jordan Truit of First Commercial Real Estate represented the landlord.
Norris & Stevens, Inc. is one of the largest locally-owned, full-service commercial real estate brokerage firms in Oregon and SW Washington. A member of the TCN Worldwide network, the firm was founded in 1966 and currently employs around 75 professionals in investment sales, leasing and property management for office, industrial, retail, land, and multi-family properties. The firm’s property management portfolio exceeds 5.9 million square feet of commercial space and 9,100 apartment units.