BEAVERTON, OR—PS Business Parks Inc. has completed the sale of two business parks, Cornell Oaks Corporate Center and Creekside Corporate Park, both located in Beaverton.
The parks consist of 18 buildings comprising approximately 1.2 million square feet, and sold for approximately $160 million, the company said. Occupancy at the date of sale was 89.6%. PS Business Parks, has one remaining 102,000 square foot business park in Portland, OR, that it also intends to sell as it exits the Oregon market.
In conjunction with the sale, the firm said Wednesday that Coby Holley, who has served as the divisional vice president of the Pacific Northwest since 2003, will now lead PS Business Parks' investment efforts as vice president of acquisitions and dispositions.
The company was represented in the sale by Eastdil Secured.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
