Reich Brothers Announces long term lease to Amazon of its Salem, Oregon Facility
The former Panasonic Manufacturing/Warehouse facility has been fully repurposed and converted to a last mile distribution facility that will generate jobs and stimulate the Salem, OR economy
NEW YORK and LOS ANGELES and CHICAGO, March 25, 2020 /PRNewswire/ -- Reich Brothers is pleased to announce that it has entered into a long term lease with Amazon for its 129,850 square foot facility in Salem, OR. The Class-A facility was originally constructed by Panasonic in 2009 and is located on a 19+ acre site at 5475 Gaffin Road SE. The building features clear ceiling heights to 38 feet, heavy power, and dock high doors. The site has immediate access to I-5 and great visibility from OR-22. The property is just 45 minutes south of the Portland area, and strategically located in close proximity to other major cities in Oregon.
Significant interior and exterior improvements were made to the site, including a major interior demolition project, the construction of new loading docks, and the improvement of a 10 acre parking lot. The construction project was fast-tracked and completed in only four months.
"We are pleased to announce a long term lease to Amazon for our site in Salem, OR. This was an exciting project for us, the property, and the city of Salem. Just two years ago, this site sat vacant and a number of jobs were lost. Now, the property is reoccupied for the long term with an outstanding tenant and great use," said Alex Reich, Director of Acquisitions at Reich Brothers. "This was truly a team effort. We could not have done this without our amazing local brokers, construction team, and the city of Salem, who were instrumental in seeing the project get to the finish line."
Amazon is now fully occupied in the building, and operations have commenced.
About Reich Brothers Holdings, LLC
Reich Brothers is a national industrial real estate firm that specializes in the acquisition, repurposing, and management of manufacturing and distribution facilities across the United States. With several synergistic divisions across multiple disciplines, including real estate, equipment sales and a lending arm, Reich Brothers is a single source for large corporations, financial institutions, and owner-operators globally that are looking to dispose of or repurpose assets. For more information, visit www.reichbros.com
Media Contacts:
Alex Reich
|914-821-5173|
[email protected]
SOURCE Reich Brothers Holdings, LLC
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