SPC Acquires Last-Mile Distribution Property in Salem, Oregon for $28.2M

SALEM, ORE. — New Jersey-based SPC LLC has purchased a last-mile industrial property located in Salem from White Plains, N.J.-based Reich Brothers for $28.2 million.

The property is a 129,760-square-foot former solar panel plant that Panasonic owned and operated. The company closed operations in September 2017, and Reich Brothers, a facility turn-around specialist, acquired the property in March 2018. In fall 2019, Reich Brothers leased the entire facility to a Fortune 100 e-commerce company.

Craig Tomlinson of Stan Johnson Co. handled the transaction.