Keystone Industrial Park Salem, OR 97301

Nestled in the Willamette Valley, Salem is Oregon’s capital and the state’s second-largest city after Portland, located just 50 miles to the north. The Willamette River runs north through Salem, and outdoor recreational opportunities surround the town. Government jobs power Salem’s economy, representing about one-quarter of the workforce.

Situated right on the Interstate 5 corridor, a newer 1-million-square-foot Amazon distribution center is one of Salem’s most prominent buildings. The e-commerce giant also has another massive fulfillment center further north along I-5 in Woodburn. In addition, as a hub for area farming communities, Salem also functions as a significant food processing center. Logistically, this has drawn several cold storage operators to expand here recently, including Lineage Logistics, which now has another facility off Kuebler Boulevard at the Mill Creek Corporate Center. Americold also has an established facility off Portland Road in north Salem near Exit 258 off Interstate 5. Larger food processors include Don Pancho Authentic Mexican Foods, Oregon Fruit Products, Kettle Foods (owned by Campbell's), Yamasa Corporation, and Meduri Farms, to name a few.

Two private colleges, Corban University and Willamette University—the oldest institution of higher education in the American West—offer a pipeline of educated workers to local employers and investors. In a smaller market like Salem, this helps to fill positions and promote employment growth.

Overall, flex and industrial rents in Salem are substantially less expensive than in Portland. Salem rents have also become a better deal over time, meaning financial barriers to entry for new tenants looking for space in the area are much less pronounced.