Nike's Evergreen Technology Center Snatched Up By Griffin Capital
REIT Griffin Capital has picked up a four-building complex in Hillsboro leased entirely to Nike. The property, totaling 267k SF, is used as Nike’s Evergreen Technology Campus. Nike has leased the property since 2008 and its current lease runs through 2020, according to the Portland Business Journal. Griffin Capital forked over $45.5M for the office campus, a safe investment considering Nike's longevity.
Griffin filed a form 8-K last week in which it states it "believes the Nike property is a business-essential facility to Nike's overall operations due to the technology functions performed therein, Nike's long-term commitment to the area as evidenced by its close proximity to its World Headquarters Campus, and Nike's substantial investments towards redesigning and renovating the property."