1313 NE Lombard Pl
Portland, OR 97211
Laughing Planet · Industrial Property For Sale

Here is a great industrial investment opportunity with low maintenance/management obligations with and Absolute Net Lease. Perfect for a 1031 exchange. This 25,375 sf classic and desirable bow-strung building has been recently upgraded and renovated. Currently home to beloved and long time restaurant group Laughing Planet Cafe with ten locations, it has over $ 1 million of recently investment improvements. The building has new insulated and seismically upgraded roof; Class A offices/conference/break room and reception then a state-of-art production/test kitchen with extensive food infrastructure such as Type 1 hoods, floor drains, large grease interceptor, floor drains and aslo includes ; large cooler; warehouse; interior dock and grade loading and extensive parking. It has a good accessible location right off NE Columbia blvd in northeast Portland within a mile of full Interstate 5 interchange and proximity to Airport and I-205 freeway. Laughing Planet ownership will leaseback the entire for 10 years at a starting attractive 8% return with yearly escalations and with an absolute net lease, the tenant will take care of all building conditions an systems along with expenses such as all taxes and insurance coverage. Additionally, a financially strong next door tenant which has leased space in the building for years is taking 12,000 sf of the building and investing sizeable resources into the space for their expansion providing 40% of total lease cost. A personal guarantee of the master lease is negotiable.