Nike Lease Pushes Corridor Vacancy Down 4%

PORTLAND, OR-Beaverton, OR-based Nike Inc. has leased 189,385 square feet of office space on the Tektronix campus in Beaverton. The transaction took the form of an 82,495-square-foot-lease at Building #55, located at 14200 SW Karl Braun Dr., and a 106,890 square-foot-lease at Building #58,  2540 SW Alan Blumlein Way.

Grubb & Ellis Co. represented Nike in the lease. According to Grubb & Ellis’ research, this lease represents the largest new office lease in the Sunset Corridor since 2000 and will push vacancy in the Sunset Corridor office submarket down to 23.1% from 27.6%, its lowest level since the fourth quarter of 2008. 

Grubb & Ellis tells Globest.com that asking rates for the building are $10.20 per square foot NNN. Brad Fletcher, executive vice president and managing director of Grubb & Ellis represented Nike. Mark Carnese, senior director, Paul Carlson, director and Tom Usher, senior director of Cushman & Wakefield of Oregon represented Tektronix.

“This new office space will house a combination of new and current Nike IT employees,” says Nike. “The majority of new staff will come from third-party vendors with a small number being full-time Nike hires. As with many businesses, Nike’s IT resources are managed on a flexible basis. Our growth in this area is part of our strategic approach to manage necessary investments and updates in our systems.”

Also headquartered in Beaverton, Tektronix—a leading supplier of test instrumentation for engineers focused on electronic design, manufacturing, and advanced technology development—owns the buildings on its campus and the company is leasing this surplus space to Nike to meet Nike’s expansion needs.