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SoCal Investor Enters Portland Market With Beaverton Business Park Purchase

SoCal Investor Enters Portland Market With Beaverton Business Park Purchase
Nimbus Oaks, Beaverton

Vista Investment Group and Acre Valley Real Estate Capital acquired the 171K SF Nimbus Oaks flex/business park in Beaverton. The deal marks the Santa Monica, California-based Vista's entry into the Portland real estate market.

Built in the mid-1980s in part for Nike, the property is at 9000-9560 SW Nimbus Ave. Tenants include XO Communications, Opus Agency, Kingcom and the Northwest Regional Education Service District.

“The property enjoys a significant amount of investment-grade credit tenancy, and its near-term lease expirations present an opportunity to mark rents to market," Vista President Jonathan Barach said. 

Vista plans to invest up to $150M in the Pacific Northwest over the next 24 months, according to Barach. 

JLL’s Buzz Ellis and Paige Morgan marketed the property on behalf of the seller, a global real estate investment manager.

"This transaction demonstrates the industry demand for institutional-quality assets in the 217 Corridor,” Morgan said.