Oregon

First Tenants Sign at $100M Field Office Project in Portland

by Nellie Day November 6, 2017

PORTLAND, ORE. — The first two tenants have been announced at Field Office, a $100 million office project being developed in Portland’s Frontside district. The two-building office and retail space will house Adpearance and The Children’s Garden when it opens in early 2018. Both tenants are local companies. The full-service digital marketing agency will occupy 30,000 square feet in Field Office’s West building. The early childhood learning center will be situated on the ground floor of the same building. National Real Estate Advisors is developing Field Office.

November 6, 2017

Office Oregon Western

Cushman & Wakefield Remodels Downtown Portland Office

by Nellie Day October 26, 2017

PORTLAND, ORE. — Cushman & Wakefield has completed the remodeling of its long-time office in downtown Portland. The office is located at 200 S.W. Market St. Cushman & Wakefield has resided in the building since 1989. The remodel includes new design enhancements and amenities making for a more collaborative, technologically advanced, functionally efficient and enjoyable workplace. The office features numerous common areas and meeting rooms, two phone booths for private calls, a private wellness room, Skype for Business technology, on-site showers and smart lighting based on occupancy, among other features. The building was initially constructed in 1973. Russell Development completed a $25 million reconstruction of the building in 1990. The firm also installed new on-site amenities earlier this year, including bocce ball courts, and completed an upgrade to the outdoor terrace area. The building is co-managed by Russell Development Co. and Cushman & Wakefield, both of which have offices on the site.

October 26, 2017

Oregon Retail Western

Harry & David to Open 20 Holiday Pop-Up Stores

by Nellie Day October 18, 2017

MEDFORD, ORE. — Harry & David will operate approximately 20 pop-up stores nationwide this holiday season, in addition to its 46 year-round retail locations. The pop-up stores will open in key market areas across the United States. Harry & David holiday pop-up stores have already begun to open and are expected to close shortly after the holiday season. The specific locations were not disclosed. Headquartered in Southern Oregon, Harry & David owns and operates 20 different orchards spread over 100 square miles, featuring fresh yearly crops of handpicked fruit. The brand also currently operates 46 year-round retail locations across the United States. Harry & David is part of the 1-800-FLOWERS.COM Inc. family of brands.

October 18, 2017

Multifamily Oregon Western

Virtu Investments Purchases Barclay Village in Oregon City for $18.7M

by Nellie Day October 3, 2017

OREGON CITY, ORE. — Virtu Investments has purchased the 146-unit Barclay Village apartments in Oregon City for $18.7 million. The community is located at 775 Cascade St., just south of Portland. Built in 1987, Barclay Village features a mix of one- and two-bedroom units with an average size of 989 square feet. The asset was 97 percent occupied at the time of sale. About half of the units have received modest renovations upon turnover. CBRE’s Phil Oester, Joe Nydahl and Josh McDonald represented the seller, Barclay Cascade Investors, in the transaction.

October 3, 2017

Arizona Colorado Indiana Michigan Midwest Multifamily Oregon Student Housing Top Stories Washington Western Wisconsin

American Campus Communities Acquires 3,776-Bed Student Housing Portfolio for $590.6M

by Taylor Williams September 25, 2017

AUSTIN, TEXAS — American Campus Communities Inc. (NYSE: ACC) has acquired a portfolio of seven student housing properties totaling 3,776 beds across the Western and Midwestern United States for approximately $590.6 million. Affiliates of Milwaukee-based development firm and Core Spaces and Chicago-based DRW Real Estate Investments LLC sold the assets. All of the properties are associated with major universities, with enrollment averaging about 35,000 undergraduate and graduate students at each school. The company will invest about $8 million in up-front capital improvements to the portfolio. Two of the properties are stabilized: the 513-bed Hub Eugene and the 655-bed State, which service students at the University of Oregon and Colorado State University, respectively. The company acquired these assets in August for a combined $146.1 million. Another two of the properties, the 850-bed The James and the 248-bed Hub U District Seattle, are opening this fall. Those properties are located near the University of Wisconsin and the University of Washington, respectively. The final three properties, which total 1,500 beds, are all under construction and slated for fall 2018 delivery. They include Hub Ann Arbor, Hub West Lafayette and Hub Flagstaff, which offer housing to students attending the University of Michigan, Purdue University …

September 25, 2017

Industrial Oregon Western

JV Buys 171,828 SF Nimbus Oaks Business Park in Beaverton

by Nellie Day September 15, 2017

BEAVERTON, ORE. — A joint venture between Vista Investment Group and Acre Valley Real Estate Capital has purchased Nimbus Oaks, a 171,828-square-foot flex/business park in Beaverton, for an undisclosed sum. The park is located at 9000-9560 S.W. Nimbus Ave. in the 217 Corridor submarket. Notable tenants at Nimbus Oaks include XO Communications, Opus Agency, Kingcom and the Northwest Regional Education Service District. The asset was built between 1984 and 1985. Andrew Kirsh of Sklar Kirsh represented Vista in this transaction. Kidder Matthews will handle leasing and property management.

September 15, 2017

Office Oregon Western

NBP Capital Acquires Two-Building Office Portfolio in Portland for $32.2M

by Nellie Day September 14, 2017

PORTLAND, ORE. — NBP Capital has acquired a two-building office portfolio in Portland for $32.2 million. The acquisition includes Blagen Block, a four-story creative office building, and New Market Theater, a six-story office building. Blagen Block was built in 1888. It is fully leased to Airbnb. New Market Theater was built in 1872 and 1875. It is home to Portland’s long-standing Saturday Market. Swift Real Estate Partners acquired both buildings from Beardsley Building Development in 2015. The company invested in modernizing and upgrading the buildings. CBRE’s Charles Safley and Trevor Kafoury represented both parties in the transaction. The firm’s Nick Santangelo, Mike Walker and Brad Zampa secured $26.7 million in acquisition financing for the buyer.

September 14, 2017

Industrial Oregon Western

JV Buys PepsiCo Distribution Center in Portland for Mixed-Use Conversion

by Nellie Day September 11, 2017

PORTLAND, ORE. — A joint venture between Security Properties Development Co. and Beijing Jade Investment Group has purchased the PepsiCo Distribution Center in Portland for an undisclosed sum. The center is located between NE 25th and NE 27th avenues, and NE Holladay Street and NE Sandy Boulevard. The JV plans to redevelop the five-acre urban property under the City of Portland’s “Large Site Master Plan” designation, offering market-rate and affordable housing, office, retail and other real estate types over the next several years.

September 11, 2017

Industrial Oregon Western

PCCP, Capstone Partners to Develop 1 MSF Mill Creek Logistics Center in Salem

by Nellie Day September 11, 2017

SALEM, ORE. — A joint venture between PCCP and Capstone Partners has announced plans to develop Mill Creek Logistics Center, a 1 million-square-foot distribution facility in Salem. The facility is situated in the Mill Creek Corporate Center, a 548-acre master-planned industrial park. The JV acquired the land in late August from the State of Oregon – Department of Administrative Services. Development has commenced on the 62-acre parcel with completion anticipated in July 2018. Notable neighboring tenants include Home Depot and FedEx.

September 11, 2017

Idaho Multifamily Oregon Seniors Housing Washington Western

CareTrust REIT Acquires 13 Skilled Nursing Facilities in Texas, Idaho, Oregon, Washington for $97M

by Nellie Day September 7, 2017

PORTLAND ORE. — CareTrust REIT Inc. (NASDAQ: CTRE) has agreed to acquire 13 skilled nursing facilities in three separate transactions for a total purchase price of $97 million. The properties are located in Idaho, Texas, Oregon and Washington. In the first transaction, CareTrust has acquired three skilled nursing facilities in Idaho as part of a staged, seven-facility portfolio transaction. When completed, the full portfolio price will be $65.5 million, which CareTrust funded with cash on hand and its $400 million unsecured revolving credit facility. The full transaction is scheduled for completion by the end of the year. The seven properties, which total 571 beds, will all be added to CareTrust’s master lease with Cascadia Healthcare LLC. CareTrust forecasts an annual cash rent of approximately $5.9 million from the portfolio. In the second transaction, CareTrust acquired Wellspring Health and Rehabilitation of Cascadia, a 53-bed skilled nursing facility in Nampa, Idaho; Secora Health and Rehabilitation of Cascadia, a 120-bed skilled nursing facility in Portland, Ore.; and Brookfield Health and Rehabilitation of Cascadia, an 83-bed skilled nursing facility in Battle Ground, Wash. CareTrust bought the properties for $11.3 million and added all three to the same master lease with Cascadia Healthcare. CareTrust expects …

September 7, 2017

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