Los Angeles-based BH Properties, a real estate investment firm, has sold two Hillsboro, Oregon office and technology buildings known as Technology Center One and Two, totaling 95,000 square feet, for $6.9 million. According to an OregonLive.com article, BH Properties purchased the buildings in 2007 for $8 million. Hawaii-based Watumull Properties Corp. bought the properties, though terms of the deal were not disclosed. Keith Young, senior vice president at Kidder Mathews, represented both the buyer and the seller in the transaction.
Near the Intel Corp. campus, Tech Center One and Two are located at 7431 & 7451 NW Evergreen in Hillsboro. The property, constructed in 1985 with an addition in 1993, 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."
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