60,200 Square Foot Office Building Sold in Eugene, Oregon
Newmark Grubb ACRES is pleased to announce the sale of a 60,200 square foot office building located in the University of Oregon Riverfront Research Park in Eugene, Oregon.
Newmark Grubb ACRES investment specialists, Rick Davidson and Brandon Smith represented the seller, Green Hornet Space Agency, LLC. The building was purchased by, Oregon Future Expansion Millrace (OFX), LLC, an investment arm of the University of Oregon, Board of Governors. The building was master leased for future expansion.
Speaking on the transaction Mr. Davidson, remarked, “This was a unique investment where the University was the tenant, the land lessor and ultimately the buyer. The sale was not without its regulatory difficulties, but in the end it was a wonderful opportunity for the University of Oregon and a very satisfactory conclusion for the original developer and owner of the building.“