BEAVERTON, OR—Under the influence of Millennials and office tenants looking to the suburbs, flex space is increasingly more in demand during the COVID era. One recent example is the Nimbus Corporate Center, a 16-building flex office park totaling 691,036 square feet, which has just sold in this suburban Portland community.
A partnership between a fund controlled by DRA Advisors LCC and Prescott Partners purchased the park for $130 million. The seller was Shorenstein.
Situated on 47.5 acres at 8910-9775 SW Gemini Dr. and 9203-9790 SW Nimbus Ave., Nimbus Corporate Center is in a transit-oriented location adjacent to Washington Square Mall, Oregon's highest-grossing mall, and visible from Highway 217. The office park is near several transit centers including the Hall/Nimbus WES Station and is approximately 6 miles from Portland's central business district.
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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.
