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| Beaverton Creek V is within walking distance of numerous amenities, including the 224-acre Tualatin Hills Nature Park. |
PORTLAND, OR – JLL Capital Markets announced it has closed the $15.5 million sale of Beaverton Creek V, a two-building, flex office portfolio in Beaverton, Oregon, a suburb of Portland.
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| Buzz Ellis |
JLL represented the seller, Gloria Y Gee Living Trust et al, and procured the buyer, Strategic Office Partners from Arizona (SOP).
The park has convenient access to public transportation
with the MAX Light Rail Station adjacent to the site, and it is within walking
distance of numerous amenities, including the 224-acre Tualatin Hills Nature
Park.
Beaverton
Creek V is fully leased to Fresenius Kidney Care and a world-renowned athletic
apparel company, whose world headquarters is just one-half mile from the
property, and who occupies the majority of the other buildings within the park.
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| Adam Taylor |
According to JLL Research, flex office is currently in high
demand across Portland’s westside suburbs boasting a low vacancy of 6.4% and
more than 75% growth rate in rents in the asset class since 2012.
The JLL Capital Markets team representing the seller was led
by Managing Director Buzz Ellis, Director Adam Taylor and Senior
Director Logan Greer.
“SOP’s acquisition marks a turning point in the Portland
commercial real estate market, as it is one of only a few deals to be completed
since the onset of COVID-19 in mid-March,” said Taylor.
“The
sale of Beaverton Creek V underscores a growing interest amongst buyers in
suburban, flex office offerings during the pandemic.”
Logan Greer
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists
worldwide with offices in nearly 50 countries.
For more news, videos and research
resources on JLL, please visit our newsroom.
CONTACT:
Kristen Murphy
JLL
Senior Manager
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