A warehouse in Northeast Portland has sold for $16.2 million.

The 126,303-square-foot warehouse east of Portland International Airport is fully leased to Johnstone Supply Inc., a distributor of heating, ventilation, air conditioning and refrigeration equipment.

The seller was Stockbridge, a San Francisco-based real-estate investment firm; the buyer was not disclosed. The deed was not yet recorded in Multnomah County. The sale equates to $128.26 per square foot.

Built in 1991, and occupied by Johnstone Supply since, the facility offers a 24-foot clear height, 18 dock-high doors, a drive-in grade-level door, and parking and office space.

The property is also near Interstate 205’s interchanges with I-84 and SR-30B, and Port of Portland terminals. It previously sold in 2014 for $27.8 million.

“11632 N.E. Ainsworth presented a compelling opportunity for institutional buyers of industrial real estate,” stated Buzz Ellis, managing director of Jones Lang LaSalle. “Johnstone Supply’s commitment to the location, coupled with the sustained demand for functional industrial buildings in the Northeast Columbia corridor, came together to create a stable investment with long-term upside.”

Ellis, along with JLL managing directors Mark Detmer and Bo Mills, senior director Ryan Sitov and director Adam Taylor, represented the seller.

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