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Unico Properties has snapped up a 203,069-square-foot office property in Lake Oswego.

The Seattle-based real estate firm purchased the 1999-constructed property from seller Shorenstein, a San Francisco real estate investment company.

Located at 5800 and 6000 Meadows Road, the two-building Class A office property was over 90 percent leased to several professional services tenants at the time of sale. The property is near Interstate 5 and Oregon Highway 217, connecting Lake Oswego to the rest of the Portland metropolitan area.

The sales price was not disclosed and was not yet reflected in Clackamas County records. Leases were listed online last week for $40 per square foot.

CBRE‘s Charles Safley, Paige Morgan and Tom Pehl represented the seller. Nick Santangelo of CBRE’s debt and structured finance team arranged the buyer’s acquisition loan.

鈥淭he stability of the asset, strong surrounding demographics and improving market fundamentals fueled significant interest in the property,鈥� Safley said in a news release. 鈥淲e remain excited for the continued evolution of the Kruse Way submarket and for the asset.鈥�