54,748-SF Park Place Office Center Sells for $8M

VANCOUVER, WA-The 54,748-sf Park Place Office Center near Vancouver Mall changed hands recently for $8 million. The two-story, two-building development at 7700 NE Greenwood Dr. was completed about 12 months ago and is 93% leased. Its anchor tenants include Bonneville Power Administration and Remax Equity Group. Annual full-service asking rates are $21 per sf.

The buyer is Erickson Realty Ltd., owner of the 82,000-sf Hoffman Columbia Plaza in Downtown Portland and three buildings in Beaverton’s Griffith Park. Operating under the name Beacon Homes, the seller was Kurt Dalbey, the former owner of The Equity Group Inc. Realtors. Neither Dalbey nor Erickson principal Herb Rupp was available for comment Monday afternoon.