72,000 square foot industrial building
Meriwether acquired the industrial building at 2850 NW 31st Avenue in an off-market transaction in October 2014 from Premier Press, an owner-user. The 72,000 square foot property is located in the Guild’s Lake Industrial Sanctuary just 2.5 miles outside of downtown Portland. The Seller leased the property back at closing for eight months in order to build a new headquarters. Meriwether sold the vacant building in October 2015 to a corporate owner-user generating an IRR of 52.8% and a 1.50x equity multiple.