By Kate Snyder
A three-building business park in Hillsboro has hit the market. The 55 West Business Park is a 192,831 square foot campus that’s fully leased with three tenants, according to a marketing brochure from CBRE, which has the listing. The asking price for the entire portfolio is around $39 million, or about $202 per square foot. Each of the buildings, however, is also listed separately and can be purchased as a single asset.
The business park’s owner is Westport Capital Partners, which refinanced the property last year, according to The Registry’s previous reporting. CBRE’s Paige Morgan, Charles Safley, Tom Pehl, Brett Hartzell and Chais Lowell are the brokers for the property.
The three buildings are located at 5505 and 5555 Moore as well as 5510 Elam Young. At 5505 Moore, the 94,308 square foot building has an asking price of $17 million, or about $180 per square foot. The structure at 5555 Moore is just barely the smallest of the three at 48,823 square feet with an asking price of $10.8 million, or approximately $221 per square foot. The middle of the three, at 5510 Elam Young, is 49,700 square feet and has an asking price of $11.5 million, or about $231 per square foot.
The property has three tenants – Lattice Semiconductor, Musarubra US LLC and HIS Innovations Group – each taking up one of the three buildings. Lattice is the world’s largest volume supplier in low power integrated circuit technology and has been leasing 5555 Moore since 1985, according to the marketing brochure. The firm recently renewed its lease for another five years. Musarubra, a cybersecurity company doing business as Trellix, has five years remaining on their lease term at 5505 Moore. HIS, a supplier of semiconductor components and systems is headquartered across the street and recently expanded their footprint into 5510 Elam Young with a 7.5 year lease term.
Amenities at 55 West include clean rooms, test labs and assembly, advanced fabrication and warehouse spaces with four dock high loading doors and four grade level doors to support tenant operations.
The property is accessible to US 26, downtown Portland and major employers like Intel and Nike within minutes of driving, according to the marketing brochure. The site’s zoning would allow for a variety of uses such as advanced manufacturing, warehousing and freight movement, data centers, research and development, retail and office.
