X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEAVERTON, OR-Biamp Systems, purveyor of digital audio systems has inked an 11-year lease for 71,000 square feet of office space at Nimbus Corporate Center, according to Grubb & Ellis Co., which negotiated on behalf of the tenant. The owner of Nimbus Corporate Center is San Francisco-based Shorenstein Properties.

The G&E brokers who negotiated the lease for Biamp were Eric Haskins and Michelle Franceschi while Trevor Kafoury of CB Richard Ellis represented Shorenstein. None of the brokers involved were immediately available for comment.

Other local brokers tell GlobeSt.com the value of the modified gross lease is approximately $12 million. That would put the average lease rate on the deal between $15- and $16 per square foot per year. The comparable asking rate was closer to $17 per square foot, according to local sources.

Biamp, which employees 130 people at its existing headquarters, is relocating from 48,000 square feet of industrial space, some of it at 10074 SW Arctic Dr., also in Beaverton. The Nimbus Corporate Center building where it is moving is located at 9300 SW Gemini Dr. and known as Building 5.

Biamp supplies and installs audio management systems for corporate boardrooms, conference centers, performing arts venues, courtrooms, churches, educational campuses and recreational facilities, among others. The company’s VP of development Steve Metzger says the company’s workforce and production has grown tremendously since it moved into its existing location a decade ago. The new facility will help the company further expand its offerings, he says.

Nimbus Corporate Center totals 16 buildings and 690,000 square feet net rentable. The Biamp lease drops vacancy in the development to 10%, with the largest contiguous availability now 22,000 square feet.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.