The Raleigh West assets include a 60,000-sf office building and a 40,000-sf retail center at 6443 SW Beaverton-Hillsdale Hwy. Menashe tells GlobeSt.com that the office building has a 25% vacancy and the retail center has had "substantial vacancy" but negotiations are under way with three tenants that would drop vacancy to 10%. "I think the previous ownership had more pressing issues," says Menashe, who was represented by Norris Beggs & Simpson.

In another recent transaction, Menashe bought the two-year-old 60,000-sf International Plaza at 4560 SE International Way in Milwaukie for $9 million. The two-story concrete and steel building is 100% occupied by Marquis Corporation and the State of Oregon's employment division. Both are on long-term leases. The seller was JBH Construction.

In the third deal, Menashe acquired a 10,000-sf building at the corner of Northwest 9th and Glisan, which represents is the eastern edge of Portland's Pearl District. A 16-story building is going up across Glisan from the building.

"It is an excellent corner with huge development potential," says Menashe, who in the near term will just look to renovate and lease the space to a bank or some other retail user. The sale price was $1.62 million. The seller was an individual who used to operate an auto restoration business out of the building.

As is customary with the way he operates, Menashe will utilize his own staff to manage and lease his new buildings. Menashe was represented in the transaction by John Medak, Chris Johnson and Jennifer Medak with locally based NAI Norris, Beggs & Simpson.

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Menashe Buys Two Office Buildings, Retail Center

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