HFF Closes $25M Portland Office Sale
- Jul 08, 2017
HFF secured the sale of Sunset Corporate Park, a 133,814-square-foot office building in Portland, Ore. The company closed the $24.5 million sale on behalf of the seller and procured the buyer, Swift Real Estate Partners.
Located at 22823 NW Bennett St., the two-story, Class A property consists of three buildings with a 22,867-square-foot floor plate. Sunset Corporate Park is situated adjacent to Intel’s $3 billion Ronler Acres Campus and two miles from Orenco Station.
The property is 92.5 percent leased to a mix of tenants, including AIKA, Volkswagen, Nikon, SCREEN and CHS+. The office building offers a total of 535 parking spaces and includes 6.85 acres of developable land. According to data provider Yardi Matrix, the asset last traded in 2016, in a $333.4 million sale, in which Lone Star Funds purchased 24 properties from Equity Office Properties Trust, totaling 2,267,300 square feet of office space and 108,500 square feet of residential space across the country.
Image courtesy of Yardi Matrix