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Broadreach Picks Up Ronler Corporate Center

HILLSBORO, OR-The Palo Alto, CA-based value add investor pays about $19 million for the 157,000-sf park three months after acquiring the nearby Evergreen Corporate Center in February.

By Brian K. Miller | Updated on June 14, 2006

HILLSBORO, OR-Value-add investor Broadreach Capital Partners LLC has picked up its second business park here, paying $18.9 million for Ronler Corporate Center. One of the park’s four 40,000-sf buildings is vacant. The largest tenant is Intel, which owns a campus across the street (Evergreen Parkway) from the project.

In February, the Palo Alto, CA-based company paid $25 million for Evergreen Corporate Center, a 266,000 sf flex-office park also in Hillsboro. The park’s four buildings were more than half empty at the time of sale.

Ronler Corporate Center was acquired from Bengreen LLC, an entity of Portland-based Rembold Cos., which has owned the property since its development in 1999. The deal was brokered by Tim Parker and Pat Schreck of Portland-based Melvin Mark Brokerage Co. Evergreen Corporate Center was acquired from the brokerage firm’s parent company Melvin Mark Cos.

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