B+E, an investment brokerage firm specializing in net lease real estate, announced the sale of a FedEx Ground distribution facility in Portland’s Swan Island Industrial Park for $32.5 million.

The cap rate establishes the 2024 benchmark cap rate for FedEx. B+E represented the seller and procured the buyer, both family offices. “We’re excited to achieve this outcome on behalf of our seller, despite an elevated interest rate environment and the short remaining lease term on the asset,” said B+E Associate Director William Brooks.

“We ran an extremely competitive bid process that generated multiple offers, showing that the market still has a voracious appetite for quality net lease industrial assets like this one.”

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