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9/25/20
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Strategic Office Partners paid $15.5 mil for Beaverton Creek V, a two-building, flex office portfolio in Beaverton, OR, a suburb of Portland. The asset was sold by Gloria Y Gee Living Trust et al.
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.
Buzz Ellis, Adam Taylor and Logan Greer with JLL Capital Markets represented the seller in the deal. 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.
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