Smart Foodservice Portfolio

Property Overview

Located at 8250 SE Stark Street in Portland, Oregon, this 40,000 SF single-tenant retail property was built in 2019 and occupied by Smart Foodservice at the time of sale. The property was 100% leased and sold for $10,950,000, or $274 per square foot.

Challenge

Before a private equity buyout of Smart Foodservice, the seller needed to divest the real estate portfolio on a defined timeline. Our team had previously been involved in the site selection and build-to-suit process through the Kidder Mathews retail leasing team, which gave us deep familiarity with the asset. The assignment required identifying a buyer capable of closing quickly and on the seller's terms.

Action

We brought the property to market through an on-market campaign targeting qualified buyers. The process generated multiple offers, giving the seller the ability to evaluate competing bids and select the strongest candidate. We focused on buyers with the financial capacity to close all-cash and meet the seller's required timeline, ultimately identifying a local buyer who fit both criteria.

Result

• Sale price of $10,950,000 ($274 per SF)
• 100% occupancy at close
• Multiple offers received through the marketing process
• All-cash sale to a local buyer
• Transaction closed on the seller's timeline without a financing contingency