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Fast-food restaurateur In-N-Out has purchased a 71,600-square-foot industrial building in Gresham.

The property, located at 18205-18365 N.E. Sandy Blvd., is part of the Portland Portal III industrial development completed in May 2024 by Panattoni Development Company. The remaining 145,096-square-foot building is available for sale or lease.

Real estate services firm Cushman & Wakefield represented the seller in the transaction. The previous owner is identified as CP Logistics Portland Portal III LLC of Sacramento, California. The sale price was not disclosed; the transaction is not yet listed in Multnomah County property records.

In-N-Out plans to utilize the newly acquired space to serve the Portland-metro market as it expands its footprint in the region, according to a press release. The property is near the intersection of Northeast Airport Way/181st Ave., providing access to Interstate 84.

The Cushman & Wakefield team is marketing the second building for lease or purchase on behalf of Panattoni. The building features 39 dock doors, two grade doors and a 36-foot clear height. It is divisible to accommodate tenants with spaces as small as 35,000 square feet, Cushman & Wakefield stated in the press release. The concrete tilt-up building is served by 83 auto parking stalls, a signalized intersection and 2,000 amps of 3-phase power.