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August 10, 2012

Watumull Properties buys $6.9 Million Technology Center near Portland

Technology Center One and Two, office and technology buildings in Hillsboro, a Portland suburb, have sold for $6.9 million. The two buildings total 95,000 square feet, and they are located in the heart of the Sunset Corridor near the new Intel plant.

Watumull Properties Corp., a Honolulu based real estate company, purchased the buildings from BH Properties. Watumull owns a portfolio of commercial buildings in Portland and the surrounding area, some managed by Kidder Mathews. "This latest acquisition with its prime tech corridor location is an excellent solution for office and technology users seeking a high quality corporate image in a great location", says J.D. Watumull, the firm's vice president. Keith Young and Joshua Swartz, Kidder Mathews commercial real estate agents, will market the project to lease the remaining vacancies.

The seller, California-based BH Properties, purchased the buildings in 2007 for $8M. Keith Young, senior vice president and partner at Kidder Mathews, represented both the buyer, Watumull Properties, and the seller, BH Properties. Watumull Properties Corp. is seeking additional real estate acquisition opportunities in the Portland metro area.

About Kidder Mathews

Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 400 real estate professionals and staff in 9 offices in Washington, Oregon, and California. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $1.9 billion in transactions, manages over 22 million square feet of space, and conducts 1,100 appraisals annually. For more information, go to www.kiddermathews.com.

For inquiries, please contact Karen Benoit at 206.296.9600 or email: kbenoit@kiddermathews.com.

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