April 9, 2008 3:34 PM
Portland group buys Westminster office buildings
NBS Real Estate Capital LLC, based in Portland, Or., recently paid $12.25 million for a two-building, 117,705-square-foot office portfolio at West 121st Avenue an Pecos Street in Westminster.
The property also includes 2.52 acres for future development.
This deal represents the 32nd transaction completed by NBS on behalf of the Morrison Street series of private equity funds.
The Westminster property was constructed in two phases, in 1984 and 1007. In addition, there was a substantial renovation and conversion of the west building to multi-tenant use in 2005.
The property is 89 percent leased to six tenants.
Join the discussion