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Oregon Office Campus Changes Hands in $130 Mil Transaction

10/21/20

Nimbus Corporate Center, a 16-building, 691k sf flex office park in the suburban Portland community of Beaverton, OR, sold for $130 mil ($188/sf). The property was purchased by a partnership between a fund controlled by DRA Advisors LCC and Prescott Partners.

Photo: Michael Walmsley
Photo: Michael Walmsley
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 Hwy 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.

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. 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.

Buzz Ellis, Michel Seifer, Logan Greer, Adam Taylor and Kaden Eichmeier with JLL Capital Markets represented the seller, Shorenstein.

“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.”





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