Broadreach Capital Partners LLC acquired from Portland-based Melvin Mark Cos. a 266,000-square-foot office complex in Hillsboro, Ore.
The value of the transaction was $25.1 million.
The project, known as Evergreen Corporate Center, represents Broadreach’s third acquisition in the greater Portland area in the past 18 months, where the company now owns more than 1.5 million square feet of commercial office space, including the U.S. Bancorp Tower.
Evergreen Corporate Center is comprised of three single-story, class A office buildings and one two-story office building located in Hillsboro’s Sunset Corridor area. It includes a 4.3-acre development pad that is approved for a 46,000-square-foot, single-story building. Additionally, each building will sit on its own legal parcel allowing for potential individual building sales to users and investors.
At closing, the project was 44 percent leased to General Electric and PacifiCare.
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