Based in Salem, Oregon, Paul Kerley is a longtime real estate entrepreneur who oversees an extensive portfolio of rental properties and seeks out value-added investment opportunities. In September 2019, Paul Kerley guided the purchase of an industrial property in Salem, Oregon, at 572 and 576 Patterson Street Northwest.
Undertaken through Kerley Commercial, LLC, a solely owned corporation, the acquisition was of a pair of buildings situated on just over four acres of land. Totaling 63,305 square feet, the property encompasses two buildings. Both have an Industrial General (IG) zoning classification, with one built in 1945 and one constructed in 2008. In 2017, part of the property underwent redevelopment as a multi-tenant, industrial flex space.At the time of the transaction, this part of the property had a full slate of tenants, including Northstar Martial Arts, Little Lois Cafe, Capitol City Sports, Xicha Brewing, and Evening Land Winery. The buyer in the $6 million transaction was represented by SMI Commercial Real Estate, LLC, while the seller had Legacy Real Estate as its principal broker.
