Specht Sells Beaverton Creek for $51M

Specht Cos. sold four phases of its Beaverton Creek Business Park, located in Beaverton, OR for $51 million. HFF represented the seller, which sold the 11-building, 380,050-square-foot asset to two buyers. HFF also arranged $27 million in financing for one of the buyers. Specht is hanging on to a six-acre parcel in the park, which is adjacent to the Beaverton Creek Light Rail Station.

All the buildings, plus 2.4 acres, is leased to Nike. “Nike has been a Beaverton Creek tenant since 1991, when they were located in a small office building on SW Murray Blvd. That 4,000 square foot space was used as a showroom until the Nike headquarters campus was completed,” said Greg Sprecht. The seller acquired the 54-acre park at Tualatin Valley Highway and Southwest Murray Boulevard in 1988.

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