The 116,350-square-foot class-A Cornell West office building is located at 1500 NW Bethany Blvd. (credit: OHSU)
BEAVERTON, OR—The Cornell West office building is 94% leased with rents approximately 10% below market. The 116,350-square-foot class-A building recently sold to Vista Investment Group for $22 million.
With amenities such as bike racks, showers and locker rooms, a shared conference room and 417 parking stalls, the three-story building provides tenants a suburban work environment that is accessible from Highway 26 and Highway 217 within its location at 1500 NW Bethany Blvd.
JLL managing director Buzz Ellis led the JLL team on the sale.
“Located at the eastern edge of the desirable Sunset Corridor, close to Portland and convenient to a number of higher-end residential neighborhoods, the property has a consistent history of stable tenancy, making it a safe bet for institutional buyers,” said Ellis. “Portland's market fundamentals, coupled with Washington County's growing population and employment forecast, provide Vista with a class-A asset well suited for the long term.”
Major tenants at Cornell West include OHSU, CoreLogic, Epic Imaging, Tualatin Valley Water District and Regus. The property is in close proximity to St. Vincent Hospital, Nike's world headquarters, retailers, grocers and schools. And, the location provides access direct routes to downtown Portland.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
