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Tektronix Sells Campus to Bentley Forbes

NEVADA CITY, CA-Bentley Forbes of Los Angeles acquires a 151,000-sf campus here for $11.5 million. The three-building development is 100% leased by Thomson Broadband & Media Services Inc. for the next 12 years.

By Brian K. Miller | Updated on August 15, 2004

NEVADA CITY, CA-Tektronix Inc. of Beaverton, OR sold a fully leased, 150,000-sf flex campus here for $11.5 million. The tenant is Thomson Broadband & Media Services Inc., which uses the space as its headquarters. The lease has another 12 years remaining.Thomson Broadband & Media Services is one of the world’s top providers of products and process solutions for broadcast and TV/Film professionals. The business unit housed in the former Tektronix campus was spun out from Tektronix by management and sold to Thomson in 2002 for about $172 million. The campus sits on 20 acres at 400 Providence Mine Rd. and is formatted for office, product development and warehouse uses. The transaction included an additional 45 acres of vacant land. A Bentley Forbes source tells GlobeSt.com there are no immediate plans to develop the excess acreage.Gary Griff, Paul Carlson and Tom Usher of Cushman & Wakefield in Portland, OR handled both sides of the transaction. A Bentley Forbes source tells GlobeSt.com that over the next two years Bentley Forbes wants to triple the size of its portfolio, which it currently values at $1 billion. The company’s target acquisitions range from $10 million to $500 million and the properties are generally class A office, industrial or retail developments in major markets that are net leased by a single tenant.In April, Bentley Forbes acquired a five building, four-state portfolio of warehouse buildings from Loeb Partners Corp. for $67 million. The buildings are 100% leased to worldwide logistics firm Kuehne & Nagels and are located in Alsip, IL; Franklin, MA; Forest Park, GA; and two more in Durham, NC.

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