Harsch Investment Buys Biz Park for $6M

PORTLAND-Locally based Harsch Investment Properties earlier this month closed on its acquisition of Willowbrook Business Park, a 50,635-sf, 4.7-acre mixed-use retail and commercial services property in Tigard, OR that is 91% leased. The purchase price was $5.8 million. The seller was Layton Properties.

The property is located at the Northeast corner of SW Pacific Hwy-99W and SW Durham Road, across the street from another Harsch-owned property, the 160,000-sf Tigard Towne Shopping Center. Willowbrook tenants include JB O’Brian’s Irish Pub, Willamette Financial, American Cancer Society and the State of Oregon. Thomas McDowell and Stephen Mack with Norris & Stevens represented both parties in the transaction.

Willowbrook is Harsch’s first acquisition of 2004. In 2003, the company acquired $114 million worth of real estate and spent another $67 million on new development. All told, Harsch now owns and operates 125 properties in seven Western states.