Majestic’s Brookwood Business Park in High Demand
by Mallory Wilson on 05-26-2016
Majestic Realty Co broke ground last month on another stage of its 73-acre Brookwood Business Park in Hillsboro and tenant interest in the project has skyrocketed. Part of a master plan that will include some 1M SF of office, industrial and retail space across 11 buildings, the project is getting plenty of attention from potential tenants.
“Since breaking ground this spring, we’ve experienced an increasingly strong and continually growing level of interest in this property and this park,” Majestic’s EVP of acquisitions and development, Phillip Brown, tells us. “We’re seeing a highly diverse list of potential users that would have meaningful positions in this market. What it tells us is, the park and its amenities are going to be a great fit for some outstanding companies that will deliver strong jobs and economic growth for decades to come.”
Construction also is underway for a 65k SF entertainment complex leased to TopGolf. A 200k SF data center was completed last September for Via West. The current phase is 303k SF spanning across 16 acres.
“Our research and knowledge of the market told us it was the right time to move forward with the construction of this spec property and to get space available for the market in 2016,” Phillip says. A lack of large industrial options in the area left an opportunity for Majestic to fill the void.
Majestic Realty Co purchased the land in Hillsboro from Nike in 2012 for $15M. The company has tasked Colliers International with leasing the project. Brookwood Business Park’s master plan includes a total of nine to 11 buildings, according to the Business Tribune, including at least four large facilities and dedicated space for amenities and services for workers.
Link to Original Article: https://www.bisnow.com/portland/news/mixed-use/majestics-brookwood-business-park-in-high-demand-60457