Schnitzer Properties closed on the Boones Ferry Industrial Park in Tualatin last week for $13.1 million.

The light industrial park at 18083 S.W. Lower Boones Ferry Road has five buildings across 6.23 acres. The 79,404-square-foot business park has six long-time tenants: Jacks Overhead Door, Inc., AER Fitness, Airefco, pod4print and the Oregon State Board of Nursing.

President and CEO Jordan Schnitzer said the Portland suburbs have continued to thrive with businesses moving operations out of Multnomah County because of high taxes. One of his latest projects is the Sherwood Commerce Center, which will bring 994,600 square feet of flex industrial real estate to Sherwood once completed.

“These cities like Beaverton, Sherwood, Tualatin, Gresham, they’ve all become real cities with housing and fixed-up downtowns,” Schnitzer said. “We were fortunate to be the winning bidder and closed on the property about a week ago.”

Uncertainty with tariffs and other policy changes enacted by the Trump Administration has created “chaos, which results in confusion,” Schnitzer said, adding that when there’s confusion, investors tend to pull back, creating challenges in real estate.

“I think you’ll see a slowdown in all real estate acquisitions, not just in Portland,” Schnitzer said. “The West Coast where we have properties is very strong but right now, I think there’s a chill in the air because there’s just sheer confusion as to where the economy is going.”