BEAVERTON, ORE. — The Specht Company and its affiliates have sold four phases of Beaverton Creek Business Park for $51.1 million. The sale consists of 11 buildings totaling 380,050 square feet and one 2.4-acre parcel of land in Beaverton.
Artemis Real Estate Partners and Cruzan purchased three phases of the property totaling 311,337 square feet for $41.6 million. An undisclosed buyer acquired the remaining 68,713-square-foot phase for $9.5 million. Another Specht entity retains ownership of a separate six-acre parcel within the park that is immediately adjacent to the Beaverton Creek Light Rail Station.
All of these properties are leased to Nike. The sports apparel company has been a tenant at the park since 1991.
HFF executed the sales transactions and secured a $27 million, 10-year, fixed-rate acquisition loan for Artemis and Cruzan through a correspondent life insurance company lender.