Jones Lang LaSalle Inc.
10/06/2025 | Press release | Distributed by Public on 10/06/2025 15:02
JLL Capital Markets secures the sale of Burnt Creek Logistics Center to LaSalle
SEATTLE, Oct. 6, 2025 - JLL Capital Markets announced today the sale of Burnt Creek Logistics Center to LaSalle Investment Management. The property is a brand-new Class A distribution facility totaling 681,780 square feet in Vancouver, Washington.
JLL represented the seller, Panattoni Development Company, which developed the single-tenant distribution center in 2023, in the transaction.
Fully leased to Grocery Outlet, the facility features institutional-quality construction with 128 dock doors, 40-foot clear heights, 105 trailer stalls, ESFR sprinkler systems and 3,000 amps of power.
Located at 5920 NE 162nd Ave., Burnt Creek Logistics Center occupies a strategic position just 3.5 miles from Interstate 205 and 10.8 miles from Portland International Airport. The property provides exceptional access to major transportation networks, including Interstates 5 and 84, while benefiting from Vancouver's tax advantages and proximity to Portland's robust industrial market and skilled labor force.
The facility represents Grocery Outlet's largest and newest distribution center, serving as the company's only distribution facility in the Pacific Northwest. The 681,780-square-foot lease signed in 2024 marked the largest speculative industrial lease in both Portland and Clark County history, demonstrating that not only is there high demand for new construction, but it also proves that tenant requirements in the market continue to grow.
The JLL Capital Markets team was led by Managing Director James "Buzz" Ellis and Director Rachel Jones.
"Burnt Creek Logistics Center represented the opportunity to acquire a trophy asset with stable cash flow and high barriers to entry in one of the West Coast's emerging submarkets," said Ellis. "This transaction highlights the strength of the asset and the broader Pacific Northwest industrial fundamentals."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Panattoni Development Company, Inc.
Founded in 1986, Panattoni Development Company, Inc. is one of the largest privately held, full-service, development companies in the world. Panattoni operates from 65 offices in the United States, Canada, Europe and Asia. Since inception, Panattoni has developed more than 625 million square feet of space including more than 215 million square feet of build-to-suit projects. For more information visit, https://www.panattoni.com.
About LaSalle Investment Management | Investing Today. For Tomorrow.
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages US$84.9 billion of assets in private and public real estate equity and debt investments as of Q1 2025. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information, please visit https://www.lasalle.com, and LinkedIn
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