SoCal Investor Enters Portland Market With Beaverton Business Park Purchase
Vista Investment Group and Acre Valley Real Estate Capital acquired the 171K SF Nimbus Oaks flex/business park in Beaverton. The deal marks the Santa Monica, California-based Vista's entry into the Portland real estate market.
Built in the mid-1980s in part for Nike, the property is at 9000-9560 SW Nimbus Ave. Tenants include XO Communications, Opus Agency, Kingcom and the Northwest Regional Education Service District.
“The property enjoys a significant amount of investment-grade credit tenancy, and its near-term lease expirations present an opportunity to mark rents to market," Vista President Jonathan Barach said.
Vista plans to invest up to $150M in the Pacific Northwest over the next 24 months, according to Barach.
JLL’s Buzz Ellis and Paige Morgan marketed the property on behalf of the seller, a global real estate investment manager.
"This transaction demonstrates the industry demand for institutional-quality assets in the 217 Corridor,” Morgan said.
