Based in Salem, Oregon, Paul Kerley is a real estate entrepreneur who oversees an extensive portfolio of rental properties and seeks out value-driven investment opportunities. In September 2019, Paul Kerley guided the purchase of industrial property in Salem, Oregon, at 576 and 572 Patterson Street Northwest.
The transaction was for two buildings encompassing approximately four acres and are zoned as Industrial General (IG). With one building dating back to 1945 and the other built in 2008, the entire property was redeveloped in 2017 and transformed into an industrial, multi-tenant flex space.
When solely owned Kerley Commercial, LLC purchased the property, several tenants took up all available rental spaces. These included Xicha Brewing, Capitol City Sports, Northstar Martial Arts, and a cafe and a winery. With Legacy Real Estate serving as principal broker and SMI Commercial Real Estate, LLC, representing the buyer in the deal, the transaction was valued at $6 million.
