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 Co. represented the buyer in the transaction.