News
Dermody Properties Leases 159,216 SF in Portland to Sentia Wellness
We recently leased 159,216 square feet at 19730 NE Sandy Blvd. in Portland, Ore., leaving 115,522 square feet available. Our new customer is Sentia Wellness, producer of the Social CBD brand that offers the highest-quality, lab-tested and certified CBD products globally. Its products are designed to serve consumers who seek the natural wellness and healing benefits of cannabis without the psychoactive effects of THC.
“Given the rapidly-growing industry of CBD production and distribution, our site is ideal for Sentia’s rapidly growing business,” said Phillip Wood, Northwest Region Partner for Dermody Properties. “We are very impressed by this company’s past success and its business plan for future growth.”
Dermody Properties acquired 19730 NE Sandy Blvd., a 274,738-square-foot industrial facility, in October 2018. The building was the former home of Boyd’s Coffee, making it a strong fit for CBD production given its history as a food-grade production facility.
Social CBD is currently one of the world’s largest CBD focused brands and is projected to expand to over 20,000 retail doors by Q4 2019.
“This new facility is a key component in our growth strategy to meet the market demands for Social CBD production,” said Angelo Lombardi, President of Sentia Wellness. “Our products will be manufactured and distributed from this facility using state-of-the-art technology that is setting new high-quality standards for our industry. It will also allow us to accelerate our product line expansion to include items such as CBD infused gummies and chocolates in the coming months.”
The building features a 22-30’ interior clear height, 21 dock high doors, three grade-level doors, ample car parking and space for trailer loading and maneuvering, making it an ideal facility for logistics and manufacturing-focused companies.
“We welcome Sentia as our newest customer,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “Their industry is growing dramatically, and they have an excellent forward-facing plan for distribution. Our logistics facility in Portland is ideal for Sentia’s operations and aligns with Dermody Properties’ strategy of investing in key logistics markets to best serve our customers.”
Dermody Properties was represented by Tyler Sheils and Kevin Kriesien of JLL in the transaction, and Sentia was represented by Miles von Bergen and Nathan Sasaki from Apex Real Estate Partners.