Portland-area office park in Beaverton, OR sold for $130 million to JV partnership of DRA Advisors and Prescott Partners

Logan Greer

 PORTLAND, OR – JLL Capital Markets announced it has closed the $130 million sale of Nimbus Corporate Center, a 16-building, close-in flex office park totaling 691,036 square feet in the suburban Portland community of Beaverton, Oregon.

Buzz Ellis

 JLL marketed the property on behalf of the seller, Shorenstein. A partnership between a fund controlled by DRA Advisors LCC and Prescott Partners purchased the park.

 Situated on 47.5 acres at 8910-9775 SW Gemini Dr. and 9203-9790 SW Nimbus Ave., Nimbus Corporate Center is in an amenity-rich, transit-oriented location adjacent to Washington Square Mall, Oregon’s highest-grossing mall, and visible from Highway 217.

 The office park is proximate to several transit centers, including the Hall/Nimbus WES Station, and is approximately six miles from Portland’s central business district.

 

Nimbus Corporate Center is situated on 47.5 acres
 at 8910-9775 SW Gemini Drive and 9203-9790 SW Nimbus Avenue
in the Portland, OR suburb of Beaverton

 Completed between 1984 and 1991, Nimbus Corporate Center is leased to various tenants in the manufacturing, technology, professional services, telecommunications, financial services, insurance and government sectors.

 Michel Seifer

 The property features adaptable spaces that meet the needs of a variety of users, individual building exclusivity, visibility and drive-up identity, tall clear heights and an abundance of parking.

 The JLL Capital Markets team representing the seller was led by Managing Director Buzz Ellis, Senior Managing Director Michel Seifer, Senior Director Logan Greer, Director Adam Taylor and Associate Kaden Eichmeier.

 “DRA and Prescott’s acquisition of Nimbus Corporate Center further solidifies the strength of the suburban office market in the greater Portland area,” Ellis said.

 “The market is demonstrating increased demand for suburban, flex office product as more millennials look to move to the suburbs along with tenants continuing to refine their real estate strategy during COVID-19.”

 

Adam Taylor 

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 sales, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Contact:

 Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com. 

Prescott Partners

draadvisors.com.

Shorenstein Properties LLC