Amberglen Business Center is a nine-building office and flex business campus that sold to PCCP.
PORTLAND, OR—Amberglen Business Center is a nine-building office and flex business campus located in the Sunset Corridor. The park consists of 578,808 rentable square feet across three class-A mid-rise office and six single-story flex buildings.
The asset recently sold to PCCP LLC for an undisclosed purchase price. PCCP will partner with Talon Private Capital as its joint venture operating partner. The buyer was self-represented.
Newmark Knight Frank's Pacific Northwest capital markets team represented the seller, Principal Real Estate Investors. Advising on the sale were NKF vice chairman Nick Kucha, managing director James Childress, director Jeff Hodson and senior financial analyst James Ikeguchi.
"Amberglen Business Center is a premier business campus that operates in one of the most highly amenitized suburban locations," says Kucha. "Buyers are very thoughtful when selecting suburban office investments. Amberglen Business Center offers the scale, quality and exceptional location that generated significant interest from a number of qualified parties. We are delighted to see new ownership continue to invest in the campus."
Home to the state's largest economic drivers, the Sunset Corridor is one of the most prominent suburban office submarkets in the Portland metro. Fueled by proximity to the Intel and Nike campuses, nearly 50% of the suburban office inventory in the region is in the Sunset Corridor. This high demand for commercial product is demonstrated by distinguished market fundamentals, an impressive roster of credit tenants and a depth of institutional ownership in the area.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
