Client Success Story - Portland Syrups

Portland Syrups’ mission is to create a beverage with an elevated drinking experience that will stand both on its own and as a mixer. They brew exquisitely flavored lower-sugar mixers using whole botanical ingredients.

Portland Syrups began in a neighborhood kitchen in 2012, quickly growing from the kitchen to leasing a 2,500 SF manufacturing space in North Portland. By 2020 they had outgrown their leased space and in a good position to access SBA Financing. Together Macadam Forbes and Portland Syrups embarked on a mission to buy a building that would meet their growing needs and provide the financial security of ownership.

The requirement was to purchase a 5,000 SF free-standing industrial warehouse for manufacturing of food grade product with close proximity to downtown Portland, centrally located for employee commute, while providing ample growth for the company. Portland has a limited supply of small free-standing industrial building in total not to mention on the market for sale at any one time. Plus, the needed requirements of proximity, price and ability for food grade manufacturing added additional layers to the complexity in the search.

Timing and financing were crucial parts of the deal. Although Portland Syrups' lease expiration was 12 months out from start of search, we knew that any building may have a number of tenant improvements needed to make the space ready for them and that the permitting processes in the City of Portland could push the timing of the transaction.

Keeping on top of listings new to the market as well as knowledge of off-market opportunities, Macadam Forbes was able to identify several prospects. Portland Syrup’s dedication to the touring process and quick response to early offers secured a rare opportunity to purchase a flex light manufacturing building in the Central Eastside Industrial market.

Built and owned by a local developer, the building was occupied by two tenants, both of whom were vacating the building prompting its sale. One tenant was a bakery with turnkey tenant improvements which could be immediately utilized by Portland Syrups.

The location, construction, and condition of the building prompted multiple offers. Working as a team, Macadam Forbes and Portland Syrups lined up the SBA lender early in the process and kept in continued communication throughout the process. Presenting an offer that appealed to the seller both in timing, price, and narrative, a closing on the building was achieved in less than 60 days from offer.