Yakima Products, Inc., the innovation leader in vehicle racks and cargo solutions, today announced plans to acquire the West End Building, located at 4101 SW Kruse Way in Lake Oswego, Oregon. Yakima is working with the City of Lake Oswego to finalize the $20.1 million purchase, which is scheduled to close by early August 2015. The purchase is being brokered by JLL commercial real estate company, with consultation from Newmark Grubb Cressy & Everett.
The 89,000 square-foot building more than doubles the company’s North American footprint. Its current headquarters in Beaverton, Oregon is 37,000 square-feet. Yakima plans to remodel and occupy 65,000 square feet of it, potentially leasing the additional space until it is needed due to additional company growth. Yakima has expanded its US employee base by 21 percent in the past year and plans for continued growth.
“We are thrilled to be making the West End Building Yakima’s new home,” said Ryan Martin, Chief Executive Officer of Yakima. “It is the perfect location for our growing business, and we are excited to have a headquarters that we fully own and can customize to our unique needs.”
The City of Lake Oswego, which owns the West End Building, has been looking to find the right buyer for the property for the past two years.
“We couldn’t be more pleased that Yakima has decided to purchase the property and make Lake Oswego its new home,” said Lake Oswego Mayor Kent Studebaker. “With its strong brand name and more than 100 quality jobs, Yakima will be a great fit for our community.”
Located on almost 13 acres, the move will provide Yakima with a campus-like setting, with room for expansion. The setting also reflects the company’s passion for the outdoors and the natural environment.
“With woods in our backyard and a beautiful lake just a mile away, this new location really supports and embodies our love of playing in the outdoors,” said Martin.
Extensive interior remodeling is planned to begin in August, and will be led by Portland architecture and design firm Mackenzie. Yakima plans to finalize the move by December 1, 2015.
Yakima Products, Inc. is a world leader in vehicle racks and cargo solutions for a variety of consumers, from outdoor enthusiasts to car aficionados. The portfolios of brands include: Yakima, Whispbar and Prorack.
Each of the individual brands offer a variety of cargo management products including racks for bikes, boats, ski equipment and other gear, cargo boxes and bags and high performance multi-sport trailers.