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News release

Portland, Ore.

Trio of Portland Office Sales Highlights Investment Activity

JLL completes sale of River East Center, The Round at Beaverton and Tanasbourne Commerce Center


Prime Location, Limited Supply Drives Portland Office Sale

JLL completes sale of River East Center for $33.5 million

As Portland’s record job growth drives strong office demand, JLL’s Capital Markets experts today announced the firm has completed the $33.5 million sale of the River East Center on behalf of RiversEast LLC. ASB and Lincoln Property Company bought the 99,860-square-foot office asset located in Portland’s Close-In Eastside.

Managing Director Buzz Ellis and Senior Vice President Paige Morgan led the JLL team on the deal.

"Portland's Close-In Eastside is one of the country's most vibrant tech hubs and is driving heavy demand for creatively focused, easily accessible office space, making this the perfect time to sell for RiversEast LLC," said Ellis. "River East's fully leased profile, below market rents and prime location made this an incredibly attractive offer for ASB and Lincoln Property Company."

Originally built in 1952, River East Center was completely renovated in 2006. It now includes 20-foot ceilings, an on-site fitness center, bike storage and showers. River East is located just across the river from Portland's Central Business District and is only three blocks from the Portland Streetcar.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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Limited Supply Pipeline Spurs Suburban Portland Office Park Sale

JLL completes sale of Tanasbourne Commerce Center for $31.1 million

 

PORTLAND, Ore. April 22, 2016 – Spurred by strong tech-driven office demand, JLL's Capital Markets experts today announced the $31.1 million sale of Tanasbourne Commerce Center on behalf of Meriwether Partners. Westport Capital Partners purchased the four-building, 183,907-square-foot office park located in suburban Hillsboro, Oregon.

Managing Director Buzz Ellis and Senior Vice President Paige Morgan led the JLL team on the sale.

“Tanasbourne’s strong location in the Sunset Corridor submarket and fully leased profile made this an attractive offer for buyers looking to capitalize on suburban Portland’s steady office yields as the tech sector continues to demand space and the supply pipeline stays incredibly limited,” said Morgan.

Tanasbourne Commerce Center is easily accessible from two exits off Highway 26, and is close to numerous surrounding retail and restaurant options.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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Surging Tech Demand Spurs Suburban Portland Office Sale

JLL completes sale of The Round for $29.3 million

PORTLAND, Ore. April 22, 2016 – Taking advantage of surging demand for tech and creative-focused office space, JLL's Capital Markets experts today announced the firm has completed the $29.3 million sale of The Round on behalf of SKB and WHI Real Estate Partners. The 146,028-square-foot mixed-use asset is located in Beaverton, Oregon, six miles southwest of downtown Portland.

Managing Director Buzz Ellis and Senior Vice President Paige Morgan led the JLL team on the transaction.

“The Round’s impressive roster of regional credit tenants and access to transit, combined with the surge in demand for creative office space in suburban Portland, drew heavy buyer interest,” said Ellis.

The Round consists of a multi-story parking garage and two office buildings that are 99 percent leased. The space's amenities include restaurants, a health club and light rail that offers a 20-minute trip to downtown Portland.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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About JLL 

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.