PORTLAND, ORE. – Jones Lang LaSalle (JLL) represented Bridgestone Americas Tire Operations, LLC in the second largest industrial lease this year in the Portland area. The lease, for 204, 550 square feet at Rivergate Corporate Center II at 14005 North Lombard Avenue, represents an expansion by the Nashville, TN-based tire manufacturer and effectively doubles its footprint in the Portland market.
Tyler Sheils, Sean McCarthy and Kevin Kriesien of JLL represented Bridgestone. The landlord, MEPT Rivergate LLC, was represented by Steven Klein and Peter Stalick of Kidder Mathews.
The Rivergate submarket totals 14.3 million square feet of industrial space. Industrial vacancy in the submarket falls from 12.5% to 11.1% as a result of this lease. According to JLL’s research data, the lease also removes the last remaining block of modern industrial space over 200,000 square feet from the Portland metro area.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.