Consistently seeking out investment opportunities, Paul Kerley is a real estate executive based in Salem, Oregon, and maintains a portfolio spanning approximately 1,500 residential units across the state. Among Paul Kerley’s noteworthy transactions has been a Salem, Oregon, industrial property situated at 576 and 572 Patterson Street Northwest.
The Kerley Commercial, LLC, team coordinated the $6 million purchase of four acres of land, which house a pair of buildings that together span 63,305 square feet. One of the buildings was constructed in the mid-1940s, while the other was erected in 2008. With a zoning classification as Industrial General (IG), the buildings were redeveloped in 2017 and transitioned into use as industrial flex space to house multiple tenants.
At the time of the transaction, brokered by Legacy Real Estate and represented by SMI Commercial Real Estate, LLC, the property already had a healthy mix of local businesses as tenants. These included Capitol City Sports and the Evening Land Winery, as well as a martial arts space and a cafe restaurant.
