Hayes negotiated the transaction on behalf of Fremont, CA-based Credence Systems Corp., a major semiconductor research and development firm. Credence opened a manufacturing and R&D facility in Hillsboro more than a year ago and recently acquired the building and 18 adjacent acres for expansion purposes.

The Credence real estate transaction totaled more than $31 million, the highest reported by any CORFAC member. Credence's investment included a three-story office building with 71,265 sf of space and a 112,050-sf manufacturing and warehouse facility on 29.9 acres, including 10.8 acres of developed property with 18.4 acres for future expansion.

"We'd worked with Credence in the past, so this deal was the culmination of a lot of time and effort on their behalf," says Hayes, who picked up the award at a CORFAC event in Orlando, FL late last month. As a total, the transaction represents the second largest referral transaction reported by CORFAC.

Hayes, who heads Corporate Property Services in Lake Oswego, said the Credence transactions helped push the Portland area firm's transactions from $35 million in 1999 to more than $64 million last year.