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The Opportunity
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This former manufacturing complex, with 214,540± square feet of improvements on 24.25± acres, is
located along Highway 18 in the city of Sheridan, one hour from Portland. It is one of the largest
industrial properties ready for occupancy, with excess land and rail service, within themid-Willamette
Valley region. It was built in 1973 and 1978.
The complex is within a thirty-five minute drive of Salem, Oregon, and the I-5 corridor. It is part
of the West Valley Enterprise Zone, administered by Salem-based Strategic Economic Development
Corporation (SEDCOR), providing financial incentives to a new owner in tax relief for property
improvements, and capital equipment expenditures.
The property has a strategic location in the heart of the mid-Willamette Valley region, which has
a reputation as one of the greatest providers of agriculture products, including the growing wine
industry.
Significant outside investments have been made in nearby Yamhill County by the Santa Rosa,
California-based Jackson Family Wines, who purchased more than 1,300 acres. Other recent
investments have been made by Burgundy-based Maison Louis Jadot, Washington-based Chateau
Ste. Michelle, and others from California and Washington. Two-thirds of Oregon’s wine industry is
based within the Willamette Valley.
The property has two large industrial buildings, each having over 91,000 square feet of manufacturing
space, with both grade- and dock-level doors, ample power, and all utilities. There is excellent access
from Highway 18, and the option to obtain rail service from Portland & Western Railroad.
The property can easily accommodate single or multiple manufacturing and distribution uses, or
specialized indoor storage, including boat and RV storage. Highway 18 is the major route from the
Portland metropolitan area to Oregon’s central oceanfront resort community of Lincoln City.
Nearby Spirit Mountain Casino, located a fifteen-minute drive west of Sheridan, has become one of
Oregon’s busiest tourist attractions, drawing three million visitors a year. Yamhill County wineries
attract an estimated 1.5 million visitors a year. A medium security federal correctional institution is
located in Sheridan, which employs over 350.
The complex, with 214,540± square feet on 24.25± acres, can be purchased in its entirety, or in two
individual properties. Building One is 112,540± square feet on 13.66± acres and Building Two is
102,000± square feet on 10.59± acres. Eachpropertyhas pavedparking andexcess land to accommodate
additional improvements. There is an estimated 15 acres of excess land between the two properties
which also is paved.
The Seller has reduced pricing to less than $15 per square foot, which includes plant site and the
improvements, to accelerate a sale of the entire property, providing a rare opportunity to acquire
manufacturing, distribution, and storage facilities at a significant discount to its replacement cost.
LAST ASKING:
$3,995,000 (bulk)
BULK PUBLISHED RESERVE PRICE:
$3,100,000 / $14.44 s.f.
Building One
- 13.66± acres and 112,540 s.f. of improvements - $1,600,000 / $14.21 s.f.*
Building Two
- 10.59± acres and 102,000± s.f. of improvements - $1,500,000 / $14.70 s.f.*
*The sales of individual properties shall be subject to, and contingent on, receipt of qualified, successful bids equal to, or
in excess of, $3,100,000
FINANCING:
None. All cash.
PROPERTY INSPECTION:
By Appointment Only - Please Call Auction Information Office to
Schedule
SUPPLEMENTAL INFORMATION PACKAGE WITH BID DOCUMENTS
The Supplemental Information Package with Bid Documents is available by contacting the Auction
Information Office, and can be emailed and/or mailed.
The package includes the following information:
• Aerial and Site Photos
• Building plans
• Environmental reports
• Mid-Willamette Region West Valley Enterprise Zone - Strategic Economic Development Corporation
(SEDCOR)
• Portland & Western Railroad contact
• City of Sheridan zoning, with Flood Plain map
• Yamhill County assessment information
• Conceptual sketch plans for reuse options of the property
• Preliminary title report
• Bid information: Bid instructions and Bid form, Buyer Acknowledgement form, Purchase and Sale
Agreement, Agency Disclosure form, Broker Cooperation form
For Supplemental Information, please email
info@rmnw-auctions.com