TIGARD, ORE. – A 2,000-square-foot property in Tigard that is net leased to Starbucks has sold to a limited liability company for $1.8 million. The space is located at 9785 SW Shady Lane, near Washington Square Mall. It is situated just off Highway 217. Construction on the building was completed in late April. Starbucks opened in early May. Justin Poor represented both the buyer and seller, another LLC, in this transaction.
PORTLAND, ORE. – The 46-unit Clinton Court apartments in Portland has sold to Clinton Properties LLC for $6 million. The community is located at 2725 SE 29th Street. The seller repositioned the property in 2013. Kirk Ward of Norris & Stevens represented both the buyer and seller, CCA LLC, in this transaction.
PORTLAND, ORE. – A 5,000-square-foot retail property in Portland has sold to a limited liability company for $1.8 million. The property is located at 2100-2118 NW Glisan Street. It is fully leased to three businesses. The seller, an out-of-state family trust, was represented by Justin Poor of Marcus & Millichap’s Portland office.
BEND, ORE. – Ascend Holdings has acquired a 50,000-square-foot, mixed-use property in Bend for $8 million. The property is located at 1133 NW Wall Street. Ascend plans to convert a portion of the building’s second floor office space into residential units. The property’s two buildings house a mix of residential, office, retail and restaurant space. It was 86 percent leased at the time of the sale. The seller, a San Francisco-based investment group, was represented by Ron Ross, Erich Schultz, Terry O’Neil and Jay Lyons of Compass Commercial Real Estate Services.
BEND, ORE. – Romanoff Floor Coverings has leased 4,537 square feet of industrial/warehouse space in Bend. The space is located at 63026 Plateau Drive. The flooring construction services provider was represented by Ron Ross and Terry O’Neil of Compass Commercial in this transaction. The landlord was not named.
PORTLAND, ORE. – GBD Architects has renewed its lease and expanded its space at the Brewery Blocks II in Portland. The five-block retail and office center is located at 1477 Northwest Everett Street in the city’s Pearl District. GBD was represented by Chris Johnson, MaryKay West and Carter Beyl of NAI Norris, Beggs & Simpson. The landlord, MEPT Brewery Block 2 LLC, was represented by Eric Haskins of Jones Lang LaSalle.
BEND, ORE. — A joint venture between Tryperion Partners and Vesta Hospitality has acquired the Riverhouse Hotel & Convention Center, a 220-room hotel in Bend, for an undisclosed sum. The full-service hotel is located at 3075 US-97 BUS, along the Deschutes River. The acquisition includes a 53,000-square-foot convention center. The joint venture plans to upgrade the guest rooms and food and beverage outlets. The hotel also has prime access to walking and hiking trails along the river.
PORTLAND, ORE. – The 72-unit Connery Place apartment community in Portland has sold to a private investor for $7 million. The community is located at 8110 SE Mill Street in the southeast Montavilla neighborhood. It is 97 percent occupied. The property features a renovated clubhouse and outdoor pool. About 30 percent of the units have been renovated. HFF’s Nick Klein and Tyler Linn represented both the buyer and seller, Cumberland Holdings, in this transaction.
PORTLAND, ORE. — BDC Advisors has acquired a 96,250-square-foot office building in Portland for $35.3 million. The mid-rise building is located at 2100 Southwest River Parkway in the city’s Central Business District. The Class A building is situated in the south end of CBD on the Willamette River. It sits adjacent to the southern-most part of Waterfront Park, less than a mile southeast of Downtown. The eight-story property was built in 1995. It is fully leased to two tenants. The transaction was executed by HFF. The seller was Clarion Partners. HFF also secured a seven-year, fixed-rate acquisition loan for BDC through a regional bank.
PORTLAND, ORE. — M&C Properties has acquired the 324-unit Jory Trail at the Grove apartments in Portland for $59 million. The community is located at 8750 Southwest Ash Meadows Road. The property sits adjacent to Interstate 5 in the Wilsonville submarket, which is less than 20 miles south of Downtown Portland. It is situated within the Grove master-planned community. Notable employers in the area include Xerox, Mentor Graphics, Fir Systems and Rockwell Collins. Jory Trail was completed in 2012. It is currently 94 percent leased. Community amenities include walking trails, Wi-Fi access in all units and public spaces, a 24-hour fitness center, pool and sundeck with heated hydrotherapy spa. The seller, a partnership between Holland Partner Group and the Carlyle Group, was represented by HFF’s Ira Virden and Kerry Hughes. HFF also secured a $44.2-million, fixed-rate loan for M&C through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. The HFF debt placement team was led by Charles Halladay, Tom Wilson, Sebastian Trujillo and Charlie Watson.
