REBusinessOnline

DRA Advisors, Prescott Partners Buy Nimbus Corporate Center Office Park Near Portland for $130M

BEAVERTON, ORE. — A partnership between a fund controlled by DRA Advisors and Prescott Partners has purchased Nimbus Corporate Center, a flex office park in Beaverton, a suburb of Portland. Shorenstein sold the asset for $130 million.Situated on 47.5 acres at 8910-9775 SW Gemini Drive and 9203-9790 NW Nimbus Avenue, the 16-building property offers a total of 691,036 square feet of flex office space. Completed between 1984 and 1991, Nimbus Corporate Center is leased to various tenants in …

Hawthorne Hydroponics Leases 378,000 SF Industrial Facility at Blue Lake Corporate Park in Gresham, Oregon

GRESHAM, ORE. — Hawthorne Hydroponics has signed a long-term lease to occupy a newly constructed 378,000-square-foot industrial building at Blue Lake Corporate Park in Gresham. A supplier of horticulture, organics, hydroponics and lighting supplies, the tenant is expanding its operations within the region and will retain a presence in Vancouver, Washington.The building is part of Airport Way’s newest industrial development, which consists of two buildings totaling 463,500 square feet on …

Trojan Purchases Hawthorne Mini Storage in Salem, Oregon for $8.3M

SALEM, ORE. — Los Angeles-based Trojan Storage has acquired Hawthorne Mini Storage in Salem from a private investor for $8.3 million. Nick Walker, Trevor Roberts and Morgan Windbiel of CBRE represented the seller in the deal.Located at 1241 Hawthorne Ave. NE, the 99,435-square-foot property offers 654 self-storage units ranging in size from 25 square feet to 750 square feet. Additionally, the facility features covered RV and boat parking. The property consists of 14 single-story and …

Crystal Investment Property Brokers Sale of America’s Best Value Inn in Boardman, Oregon

BOARDMAN, ORE. — Crystal Investment Property (CIP) has directed the sale of America’s Best Value Inn, a newly converted franchise located on Interstate 84 in Boardman.Joseph Kennedy of CIP represented the undisclosed buyer and seller in the deal. The final sale price was not

Smartcap Buys Nike-Occupied Flex Warehouse Near Portland for $12.2M

BEAVERTON, ORE. — Smartcap, a Seattle-based real estate investment firm, has purchased The Cortez Building, a warehouse and office property located at 701 SW 158th Ave. in Beaverton, a suburb eight miles west of Portland. An undisclosed seller sold the asset for $12.2 million.Nike Inc. occupies the 73,200-square-foot flex property through April 2025. The apparel company has leased the building since its delivery in 1994.Keith Young of Kidder Mathews and Denis Mehigan of The Mehigan …

Trion Properties, AMC Investments Acquire Hood Apartments Near Portland for $12M

GRESHAM, ORE. — A joint venture between Trion Properties and AMC Investments has purchased Hood Apartments, a newly constructed multifamily community in Gresham. An undisclosed seller sold the asset for $12 million.Located at 1833 SE Sixth St. on 2.8 acres, Hood Apartments features 64 units in a mix of one- and two-bedroom layouts. The asset was vacant upon sale.Continental Partners sourced an acquisition loan for the transaction. Jordan Carter, Tyler Linn, Clay Newton and John …

Stack Infrastructure Breaks Ground on 28-Acre Data Center Campus in Hillsboro, Oregon

HILLSBORO, ORE. — Denver-based Stack Infrastructure has broken ground on POR03, its newest data center campus in Hillsboro. Located at 4735 NE Starr Blvd., the 28-acre campus will feature a 180,000-square-foot facility offering 24 megawatts (MW), slated for delivery in third-quarter 2021.The new data center is located less than a quarter mile from a new 34.5 kilovolt (kV) substation, with power supplied by Portland General Electric. It is located on the Wave Business Hillsboro Data Center …

Pacific Western Bank Provides $60M Construction Financing for Student Housing Development Near University of Oregon

EUGENE, ORE. — Pacific Western Bank has provided $60 million in construction financing for Union on Broadway, a mixed-use student housing development located at 476 E. Broadway St. near the University of Oregon in Eugene.Charles Halladay, Jordan Angel, Chris Ross, Teddy Leatherman, Stewart Hayes and Taylor Gimian of JLL worked on behalf of the borrowers, Greystar and Star America, to secure the loan.The 338,130-square-foot community will offer 608 beds in fully furnished units with …

SKB Cos. Receives $19.1M Acquisition Loan for Mason Ehrman Building in Portland

PORTLAND, ORE. — ScanlanKemperBard Cos. (SKB) has received $19.1 million in financing for the acquisition of Mason Ehrman Building, an office building in Portland’s Old Town District.JLL Capital Markets secured the four-year, floating-rate loan through a debt fund for SKB Cos. In addition to the acquisition, loan proceeds will be used to transform the annex roof into tenant amenity space and assist in lease-up of the building.Zachary Kersten and Tom Wilson of JLL Capital markets …

Oregon Transfer Co. Divests of 95,458 SF Purdy Brush Building in Portland

PORTLAND, ORE. — Oregon Transfer Co. has completed the disposition of the Purdy Brush Building, located at 13201 N. Lombard St. in Portland’s Rivergate Industrial District. The name of the buyer and acquisition price were not released.The Purdy Brush Building has served as the global headquarters and primary paintbrush manufacturing facility of Purdy, a consumer brand company of Sherwin-Williams, since 1985. Originally built in 1980 on a 9.5-acre site, the property features 95,468 …

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties