Hawaiian Company Increases Investment in Wash. Co. Real Estate

Continuing a theme seen last week with the sale of a pair of Beaverton rental properties to a Vancouver company, another real estate investor, this time based out of Hawaii, is yet again showing faith in the Washington County market, increasing its already sizable presence there.

Watumull Properties Corp., a Honolulu-incorporated real estate holding company, has added two industrial properties in the Sunset Corridor to its Portland metro area portfolio, purchasing both developments from AMCO Hillsboro LLC for a grand total of $5.3 million.

The first property, located at 1050 NW 229th Ave, is a 38,000+ sq. ft. single-story office and warehouse, presently leased entirely to Merchandising Technologies Inc.

The other property is a Class A warehouse and manufacturing facility that measures 45,000-square-feet. It was recently leased to a Wilson Sporting Goods subsidiary, DeMartini Sports.

This recent transaction puts Watumull Properties' investment in the area at over 2 million square feet, a rather high number considering most of their properties are located throughout the Hawaiian Islands, where the company is located. While Oregon continues a slow return from its real estate slump, this investment in commercial real estate, as well as last week's purchase by Holland Gables LLC of Beaverton residential properties, reflects a growing confidence by outside investors in the Washington County area.