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Shorenstein Sells Beaverton Campus to DRA-Prescott for $130M
A partnership between a fund controlled by New York-based DRA Advisors LCC and Prescott Partners purchased Nimbus Corporate Center for $130 million. The 16-building, close-in flex office park in Beaverton totals 691,036 square feet and was divested by San Francisco-based Shorenstein.
Situated on 47.5 acres at 8910-9775 SW Gemini Dr. and 9203-9790 SW Nimbus Ave., the amenity-rich, transit-oriented campus is adjacent to Washington Square Mall, several transit centers and delivered between 1984 and 1991. The property is leased to tenants in the manufacturing, technology, professional services, telecommunications, financial services, insurance and government sectors.
JLL’s Buzz Ellis, Michel Seifer, Logan Greer, Adam Taylor and Kaden Eichmeier represented the seller.
Ellis says, “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.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
