Meriwether Buys Tanasbourne Corporate Park II in Hillsboro, Oregon
PORTLAND, December 18, 2010 – Meriwether Partners announced the acquisition of Tanasbourne Corporate Park II in Hillsboro, Oregon for $2.4 million.
The property is a 42,000 square foot, one-story office building with 201 surface parking stalls. At the time of the acquisition, the building was vacant except for a month-to-month lease covering half the building.
“We are pleased with this acquisition and we are excited about its future prospects for the building,” said Robert Briscoe of Meriwether. “The building is in excellent condition we expect it to be attractive to single user.” Briscoe added, “We are in negotiations several users for the building and expect to announce a lease or sale soon.”
Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. We form partnerships to acquire and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions.
Meriwether was founded in 2002 by Joel Aslanian and Robert Briscoe who have worked together since 1998. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $250 million.
The firm’s primary investment focus is in the Seattle and Portland metropolitan areas. Meriwether invests in properties that are well-located with sound physical and economic fundamentals; properties that have the ability to generate attractive levels of distributable cash; and properties to which we can add value by executing recapitalization or repositioning strategies.