Invesco Real Estate buys Birtcher Center

By: Stephen Alexander//August 13, 2015//

Invesco Real Estate buys Birtcher Center

Stephen Alexander//August 13, 2015//

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After 45 days on the market, a fund managed by Cornerstone Real Estate Advisers finalized the sale of the Birtcher Center to Invesco Real Estate. The deal was marketed by CBRE.

The Birtcher Center is a three building, 397,934 square-foot industrial complex. Located at Townsend Way in Fairview, Oregon, the Birtcher Center is less than 10 miles from the Portland International Airport.

The Birtcher Center was received a LEED gold certification in 2008. It features 50-foot concrete truck aprons, plenty of parking, good street access and a diverse group of tenants, including Archive Systems, Connor Manufacturing and Intertek Testing. The Birtcher Center was 88 percent leased at the time of the sale.

The fund managed by Cornerstone Real Estate developed the Birtcher Center on a 20.2-acre property that it purchased from Townsend Farms in 2007.

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