Padden Industrial Park, a 40,870 square-foot complex of five buildings at 7613 N.E. St. Johns Road and 4601 N.E. 78th St. has been sold to Herschell Management LLC of Clark County for $3.25 million.
The seller of the fully leased complex was Heuvel Enterprises LLC of Vancouver and Portland.
The recently upgraded Padden Industrial Park features industrial/flex spaces ranging from 1,200 to 3,500 square feet.
NAI Norris, Beggs & Simpson’s Vice President Garret Harper represented the buyer. Jim Lewis of Cushman & Wakefield represented the seller.
Since January 2014, Vancouver has had the lowest industrial vacancy rate in the Portland metro area, according to NAI Norris, B
