NAI NBS Brokers Two Tigard Office Leases Totaling 40K SF

NAI Norris, Beggs & Simpson brokers represented the landlords in two recent Tigard office leases totaling more than 40,000 sf.

State Farm Mutual Automobile Insurance leased 23,712 sf at the Fanno Creek Building B on Upper Boones Ferry Road. NAI NBS' Chris Johnson, John Medak and MaryKay West represented the landlord.

State Farm will relocate its administration and a small claims department from a nearby building in January. It leased the first and second floors, and was especially attracted to Fanno Creek because it was able to accommodate special needs, including a roll-up door on the ground floor.

Fanno Creek delivered in 2008 and has been vacant until this lease, which takes the building to 50 percent occupancy.

“Getting a quality tenant such as State Farm to relocate to this project, in this business environment, is sure to promote strong momentum for the remainder of the lease-up,” Johnson said.

CNA Insurance leased 17,443 sf at Pacific Parkway Center on SW 68th Parkway. NAI NBS' Jennifer Medak, John Medak and Andrew Rosengarten represented the landlord, PacTrust.

CNA’s lease was complex, as the brokers had to restructure four other leases within the building to accomodate CNA’s size needs. CNA also leases from PacTrust in Dallas, and the company was attracted to Pacific Parkway Center because of the building’s quality, aggressive rental structure, and attentive ownership and management.

The NAI NBS team has taken Pacific Parkway Center from about 58 percent leased a year ago to 82 percent leased today.