1745 OXFORD ST SE
Originally constructed in 1946, with expansions in the 1960’s and 1980’s, the over 400,000 square foot former cannery located at 1745 Oxford Street SE in Salem had fallen on hard times in recent years. Purchased by a Hawaiian investment group years ago, the building needed to be completely overhauled to stay relevant in today’s market. SVN Commercial Advisors was retained to help represent Salem Watumull, LLC, the Landlord.
The retrofit of the building now complete, it is the home to two distribution hubs for Kettle Chips and Northwest Distribution & Storage after a multi-million dollar remodel and re-purposing of the facility by Salem’s Dalke Construction. “When we walked in there, it looked like you were walking into 1955”, proclaimed project Jim Schiess, project manager for Dalke. The building is now a very relevant distribution center with upgrades made throughout the building including adding over 20 dock height loading doors, upgraded power and electrical throughout, insulation and other environmentally friendly features installed by Dalke.
The two leases were the largest industrial lease transactions in the valley in 2014 and 2015. Our thanks to Strategic Real Estate Solutions of Dallas, Nathan Levin Company of Salem and Kidder Mathews of Portland in finalizing these leases.
In addition, we successfully closed an acquisition on a leased site for Maxxum Marine, a long time established boat dealer carrying lines such as North River Boats, Suzuki Marine, and Starweld supplying the specialty marine world throughout the Pacific Northwest.
Founded in 1988 by brothers Lloyd and Stacy Slonecker, Maxxum Marine of Eugene has grown to become one of the foremost marine dealers in the Pacific Northwest specializing in quality brands like North River, Duckworth, and many more. Their name stands for maximum strength and maximum performance.
When one of the multiple owners of the property they had leased for years passed away in 2016, SVN Commercial Advisors Greg Herbert, SIOR was called in to evaluate the property and effect a sale that was a win-win for the buyer and the sellers. On August 1, 2016 Maxxum Marine, LLC closed on the acquisition of the building they had been leasing for many years along with two extra parcels that gives them room for expansion and boat storage. “Maxxum is a locally owned and operated marine dealer that has made such a great name for themselves” Herbert said. “They were the logical buyer and it was a privilege to help put together this deal together”.