Portland, OR – Bank of America Northwest Lending Center, a 57,000-square-foot, one-story office building in Hillsboro, Ore., a Portland suburb, has just sold for $5.2 million. Kidder Mathews commercial real estate brokers Keith Young, senior vice president and partner, and Cliff Finnell, SIOR, vice president, represented both the buyer, Watumull Properties Corp., and the seller, Oregon Pacific Investment & Development Company.
“We see great potential for real estate in the greater Portland area and appreciate the efforts Kidder Mathews made to help us identify and purchase this prime piece of property,” said J.D. Watumull, vice president, Watumull Properties Corp.
Watumull Properties Corp., a Hawaiian investment group, owns a portfolio of commercial buildings in Portland and the surrounding area, some managed by Kidder Mathews. This latest acquisition, located at 21000 Northwest Evergreen Parkway, was constructed in 1985 with an addition in 1993. The property is occupied by a single tenant, Bank of America.
“This is an impeccably constructed and maintained property, positioned in an economically diverse community, in proximity to a major metropolitan market, meeting Watumull’s criteria for investment-grade properties,” said Cliff Finnell of Kidder Mathews. “This building is highly desired by a wide variety of tenants, and will only increase in value over the next few years.”
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 400 real estate professionals and staff in 9 offices in Washington, Oregon, and California. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $1.9 billion in transactions, manages over 22 million square feet of space, and conducts 1,100 appraisals annually. For more information, go to www.kiddermathews.com.
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