TIGARD, OR-The recently completed Beveland Corporate Center has changed hands. The 40,000-sf office building along Highway 217 was sold to Beaverton-based Pacific Northwest Properties for $6.5 million. It was 75% leased at the time of sale.

“It fits nicely with our strategy to develop and acquire high-quality properties in the Portland Metropolitan area,” said Tom Stern, principal of Pacific Northwest Properties, as part of an announcement.

Beveland is anchored by Paychex Inc., which occupies 30,000-sf in the building and is the only announced tenant. The building is located off Highway 217, north of 72nd Street at 7650 Beveland Rd.

Trammell Crow developed, leased, managed, and sold the building in just 14 months on behalf of a third party equity investment fund named operating under Beveland Corporate Center LP. TCC also pooled the investor money and sourced the necessary financing for the project.

“This company is designed to do that sort of work for people,” says TCC investment sales specialist Gary Gilbert, who with partner Katy Durant represented the seller int he transaction. Dave Ellis, a senior vice president with TCC, represented Pacific Northwest Properties. TCC’s Jeff Falconer and Mike Nye brokered the Paychex lease, and will continue to represent the building’s office space under the new ownership.

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