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PORTLAND, OR—Summit Properties, a locally-based investment group, has purchased a 45,000-sf flex building from Milestone Investment, an investment group based in Hillsboro, in a transaction valued at $4.4 million.

Located at 6950 NE Campus Way in Hillsboro, the single-story, single-tenant property was completed in November 2000 and features an 18-foot clear height and grade/dock loading. The complex is 100% leased to Integrated Electrical Services, a national provider of electrical and communications services with more than 150 offices nationwide.

The seller constructed the building as a build-to-suit for the tenant, which has signed a seven-year lease at $.75 triple net beginning this month with a 2.5% annual rent escalation.

Mike Thomas and Cliff Finnell, brokers with Grubb & Ellis’ Portland office, represented both sides of the transaction.

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