Meriwether Partners has purchased the Tigard Corporate Center for $41.5 million, the Portland-based real estate investment firm announced recently.

Developed in 2000, the property has three two-story buildings totaling 123,210 square feet as well as 324 surface parking stalls and a 357-space parking garage.

The Tigard Corporate Center is 100 percent leased to Consumer Cellular and Compass Oncology.

“We were attracted to the property given the pricing at a discount to replacement cost, the durable cash flow and the broad appeal of the location for suburban office and medical tenants,” Meriwether Partners principal Robert Briscoe stated in a news release.

Compass Oncology recently signed a 10-year lease for Building A and is currently adding an oncology center at the property.

Buildings B and C house Consumer Cellular’s corporate headquarters and a call center with approximately 325 employees.

The purchasing entity was a limited liability company consisting of Meriwether’s principals and other investors. The seller was RREEF, a Chicago-based investment manager.

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