Watamull Picks Up Portland Asset for $3.2M

PORTLAND, OR-Honolulu, HI-based Watamull Properties Corp. has picked up another retail asset in the Portland market, acquiring a Wickes Furniture Building here for $3.2 million.

Located in the Delta Park region of the city, the Wickes Furniture Building stands at 1100 N. Hayden Meadows Drive. Encompassing 51,350 sf, the freestanding facility is located in a retail park that includes tenants such as GI Joes. It was on the market for approximately five months before Watamull snatched it up, according to Kevin Adatto of CB Richard Ellis. Adatto, along with CB Richard Ellis colleagues Lou Lauman and Raymond Duchek, acted on behalf of Watamull in the recent transaction.

The recent purchase marks yet another Portland acquisition for Watamull, which continues to increase its holdings in the area. “Watamull is continually looking to expand in Portland because of the viability of the market here,” Adatto tells GlobeSt.com. The company has procured the property from Capital Consultants’ receiver as part of a 1031 exchange.