In 2Q24, Pacific NW Properties purchased an approximately 60,405 square foot corporate headquarters building containing approximately 20,662 square feet of two-story office located at 20050 SW 112th Ave. in Tualatin, Oregon. “We’re re-naming it ‘Franklin Business Park IV,’” stated Evan Bernstein, a partner with the Beaverton-based development, investment and property management firm, who originally developed the building in 2006 before selling it to a user. “Should have never sold it in the first place,” joked Bernstein, who spearheaded the acquisition and lease up along with Senior Leasing and Asset Manager, Erin Gram.
“This may have been one of the smoothest transactions I’ve been involved with in over 30+ years!” – Scott Kappes, SIOR
In addition to its dynamite location within the thriving Tualatin industrial submarket, the asset is sandwiched between Franklin Business Parks I, II and III, which Pacific also developed and currently owns and operates. “PNWP’s acquisition process was seamless and well-coordinated,” stated Capacity’s Scott Kappes, SIOR, who listed the building with his partners Kenny Houser, SIOR and Chris Kappes. “This may have been one of the smoothest transactions I’ve been involved with in over 30+ years!” Pacific has leased the project on a long-term basis to an existing customer within their portfolio who will be expanding into Franklin Business Park IV.
For more information and to learn about PNWP’s acquisition criteria, please visit www.pnwprop.com.
The latest addition to the Pacific NW Properties portfolio: Franklin Business Park IV