500 E Illinois St 103,723 SF Industrial Building Newberg, OR 97132 $10,600,000 ($102.20/SF)

Perfect for an Owner-user or Investor! The property is a +/-103,723 SF industrial building that is situated on 5.59acres. Currently the building is fully leased to PPM Technologies through January 2027 and an early-release may be available. The building is zoned M2, Light Industrial (City of Newberg) which allows for a broad range of uses, including: manufacturing, office, assembly, storage and distribution. The building offers clear door heights ranging from 8’ to 26’. There are nine grade-level doors, two dock-high doors, ample 3-phase power (heavy power), and ~11.4% office buildout with +/-1 acre of the 5.59acre parcel that is available land for development. There are 5 bridge cranes and 5 jib cranes with weight capacities from 3 to 5 tons among 10 cranes. The building was renovated in 2020 and it has a modern exterior-look and updated office and lobby area. It has a large, paved work yard/ample truck loading and 149 paved parking spaces. The building is "Sprinklered" with both a wet and dry system. Cooler space is available. The building is served by Union Pacific Railroad and has a railroad spur with an elevated loading platform that has two rail-loading doors. The property is considered a part of the Portland metropolitan area. Distances to nearby cities include: I-5 freeway 23 min drive (14.7 miles); Wilsonville 25 min drive/13.7 miles; Tualatin 22 min drive/12.7 miles; Tigard 26 min drive/14.5 miles; Beaverton 34 min drive/19.1 miles; Portland PDX Airport 58 min drive/35 miles; McMinnville 21 min drive/14 min. George Fox University is 5 blocks away. The property offers a skilled work-force that can be found in the surrounding neighborhood. Newberg is a fast-growing, dynamic community with a high standard of livability and is known as the "gateway to Oregon Wine Country". This property and building are an amazing opportunity for single user or multi-tenant scenarios. Lease or Sale available.