RE/MAX Leases 11,000-SF at Creekside Corporate Park

BEAVERTON, OR-RE/MAX International has signed a lease for 11,139 sf on the first floor of 8405 SW Nimbus, a two-story tilt-up that is one of the more visible office buildings within Creekside Corporate Center, a 650,000-sf multi-tenant business park in Beaverton that is owned by PS Business Parks.

RE/MAX is leasing a portion of the 39,000 sf vacated last November by W&H Pacific, which relocated to Peterkort Center II on Southwest Barnes Road in Portland. RE/MAX is relocating to Creekside from 10,200 sf in a small two-story office building in Tigard that is owned by a private investor.

Scott Madsen, Steve Reaume and Kevin Joshi of Cushman & Wakefield represented PS Business Parks in the transaction. Madsen wouldn’t get specific as to the lease rate on the deal, but said full-service asking rates in the park range from $14 per sf per year in the older one-story tilt-ups to $21 per sf for the development’s newer suburban class A buildings. The listed asking rate for the circa 1984 building RE/MAX will occupy was $10.80 per sf per year, triple net, with services running in the range of $5-$6.50 per sf.