18295 SW FARMINGTON acres. in Beaverton, OR OFFERING MEMORANDUM. Investment Real Estate www. hfore.com (503)

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1 18295 SW FARMINGTON 0.87 acres in Beaverton, OR Investment Real Estate www. hfore.com (503) OFFERING MEMORANDUM

2 PRICE SUMMARY Price: $550,000 Price Per Sq. Ft.: $14.55 PHYSICAL INFORMATION Number of Potential Units 13 Parking 13 garage & 7 surface Stories Two stories City Beaverton County Washington Zoning R-15 Acres 0.87 (37,783 sf) The Farmington Land parcel offers developers an ideal opportunity to build a strategically positioned apartment community in a strong suburban location. Located near the intersection of SW Farmington Road and SW 185th Avenue in Beaverton, the Farmington Land is 0.87 acres in size and is entitled for 13 townhome apartment units. Site plans and architectural drawings are available on request. Each unit has been designed as a two-bedroom, two-and-one-half-bath home with an attached garage. The site further benefits from an easement with the adjacent property to the west, providing driveway access off Southwest Farmington Road. The seller of the property also owns the adjacent Devonshire Manor Apartments and is willing to provide a formal easement to run storm water lines through the Devonshire complex to SW Rosa Road which would result in significant savings. The Farmington Land is a short walk from numerous commercial and retail services, including the Farmington Village shopping center, an Albertsons, Walgreens, Bi-Mart and U.S. Bank. The site is a 10-minute drive from employment hubs such as downtown Beaverton, the Nike world headquarters, Beaverton High School and the Beaverton Central MAX light rail station making it an ideal location for a suburban development. TAX INFORMATION Tax ID 1S118CC01100 For More Information Lee Fehrenbacher lee@hfore.com Greg Frick greg@hfore.com 2424 SE 11th Avenue, Portland, Oregon (503) Fax: (503) This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate HFO Investment Real Estate LLC. Build your legacy is a service mark of HFO Investment Real Estate. 2 HFO INVESTMENT REAL ESTATE

3 Hillsboro Airport Hillsboro High School HILLSBORO River Rd Brookwood Pkwy Orenco Station 2295th Ave 10 Cornelius Pass Rd Baseline Rd Johnson St BEAVERTON Tanasbourne Town Center Aloha High School SW Farmington 185th Ave Walker Rd Employee Store Sunset High School 8 Tualatin Hills Nature Park Farmington St 170th Ave BEAVERTON Beaverton Town Square Beaverton High School Murray Blvd 26 Cedar Hills Crossing 217 Cornell Rd Providence St Vincent Medical Center Washington Square 3

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6 LOCATION: TO THE WEST Cooper Mountain SW Farmington Rd 0.87 acres in Beaverton, OR 6

7 LOCATION: TO THE EAST Nike World Headquarters Downtown Beaverton Mountain View Middle School 0.87 acres in Beaverton, OR SW Farmington Rd 7

8 HILLSBORO SUBMARKET Hillsboro, just west of Portland, is home to many high-tech companies, including Intel, and their thousands of employees. Once a tiny settlement extending three blocks in each direction from its county courthouse, Hillsboro grown to become the fifth-largest city in Oregon, and the county seat of Washington County. Its population increased 15.9% from 2010 to 2017, when it reached 106,894. Hillsboro has retained its small-town charm and tradition, while at the same time offering convenient access to large employers and transportation options. Intel has three campuses located here, and Hillsboro s airport is the second-largest in Oregon. For decades, the west side of the Portland Metro Area has been referred to as part of the Silicon Forest a cluster of prominent hightech companies that have had a positive impact on Oregon s economy and population. A major economic center of Washington County, Hillsboro has attracted many high-tech businesses in the last two decades. It s been referred to as the tallest tree in the Silicon Forest. Most of its high-tech development is located along the Highway 26/Sunset Corridor, which connects Hillsboro with its neighboring city, Beaverton. Hillsboro residents are prosperous, with an estimated median household income of $70,180. According to the Spring 2018 Multifamily NW report, Hillsboro saw an average rent per square foot of $1.42 and an average vacancy rate of 4.5%, below the 4.85% average for the metro area. Other leading employers in the Hillsboro area include Salesforce, Nike, the Hillsboro and Beaverton School Districts, Providence Hospital, and Comcast Cable. TriMet s MAX Blue Line train makes stops at nine locations in the Hillsboro area, enabling an easy commute to and from the downtown Portland area. Hillsboro is an ideal place to live for the employees of its myriad businesses, as well as their families. Residents and visitors enjoy Hillsboro s farmers markets, dog parks, arts venues, community gardens and its locally-owned restaurant and shopping options. It is the host of the secondlargest Fourth of July parade in Oregon State. Other annual events include its Latino Cultural Festival, Celebrate Hillsboro and the Oregon International Air Show. Hillsboro is also home to the Metro area s only pro baseball team, the Hillsboro Hops. INTEL D1X FABRICATION PLANT 8 HFO INVESTMENT REAL ESTATE

9 BEAVERTON SUBMARKET The City of Beaverton (pop. 97,514) is a major economic hub in the Portland metro area, along with being Portland s second-largest suburb and the fifth-largest city in Oregon. Over the past two decades, Beaverton has attracted numerous high-tech businesses, and is one of Oregon s fastest-developing areas. Between 2010 and 2017, the city s population has increased by 8.6%. For those looking for job prospects, few cities are likely to offer more opportunities than Beaverton, which is a minute drive from downtown Portland. In 2015 and 2016, employment in Beaverton increased by 8.3%, faster than in all but a few dozen other U.S. cities. The national job growth rate over the same period was 3.5%. Money magazine ranked Beaverton #9 on its list of Best Places to Live for 2016, for providing ample opportunities for its residents to find employment, raise a family, and stay active. Indeed, Business Week proclaimed the city the best place in the country to raise children, due to its network of public parks, its 25-mile grid of bike paths, and its highly-regarded public and private schools. Beaverton is a large, robust community that is home to major companies as Nike Inc. and Columbia Sportswear. Several high-tech employers including Intel and Genentech are located along the Highway 26/Sunset Corridor, which includes nearby Hillsboro. The growing tech hub west of Portland includes more than 300 high-tech businesses who have made their home in what is called the Silicon Forest. As an increasing number of high skilled workers are drawn to the area, Beaverton rents have been increasing, and are forecast to continue this trend at a healthy pace. As of March 2018, Beaverton s unemployment rate was 3.6%, below Oregon s statewide average of 4.1%. Nike is currently undergoing a major expansion rumored to cost approximately $1 billion. It plans to open its new 3.2 million square foot building by the end of The new additions to Nike s campus include more office and parking space as well as landscaping improvements. In addition, Intel recently completed their R4 Building, a seven-story structure on its Ronler Acres complex in Hillsboro. Like the Portland metro area, Beaverton has experienced historically low vacancies, with a Spring 2018 vacancy rate of 4.6% reported by Multifamily NW. Housing options in Beaverton include many apartment complexes and urban-core condominiums near shops and MAX light-rail stations. Whether they are drawn to Beaverton for the schools, shopping or the outdoors, individuals and families will find a wide range of opportunities to fit their needs. With its stable, sustainable economy, Beaverton remains attractive and poised for future growth All-America City Finalist Best Places to Live (Money Magazine) 2016 Adopted a Diversity, Equity, and Inclusion Plan (2015) Joined the National Welcoming Cities and Counties Initiative, becoming the first city in Oregon to nationally declare itself a Welcoming City (2015) Tied with Cupertino, CA for a first-place City Cultural Diversity Award by The National League of Cities (2015) Unanimously passed a Resolution to Declare Support for the Muslim Community & Reaffirm Beaverton as a Welcoming City (2016) 9

10 PORTLAND METRO SNAPSHOT PORTLAND REGION Oregon s largest city, Portland, is near the confluence of the Willamette and Columbia Rivers. The Portland Metro Area consists of four counties: Multnomah, Washington, Clackamas, and Clark County, Washington. APARTMENT MARKET The Portland Metro Area consistently ranks among the nation s lowest for apartment vacancy rates according to the U.S. Census Bureau and other third-party services like REIS, MPF Research, and Axiometrics. The U.S. Census ranked Portland as having the 6th lowest vacancy rate in the nation for the first quarter of 2018 at 3.6%. REIS reports 2017 Portland metro year-over-year rents grew 3.3%. Overall rents have increased every quarter since Q SKILLED WORKFORCE & STRONG EMPLOYMENT 54% of Portland workers have an associate s degree or higher, outpacing the national average of 38%. According to the State of Oregon s Employment Department, Portland enjoys one of the fastest job growth rates in the Pacific Northwest, and the entire nation, having added 31,000 jobs in 2016 and 28,000 jobs in The Portland Metro Area s unemployment rate as of May 2018 is 3.7% the lowest since DIVERSIFIED ECONOMY Portland is home to the headquarters of Fortune 500 companies Nike, Precision Castparts and Lithia Motors. Fortune 1000 companies headquartered here include Stancorp Financial, Greenbrier Companies, Columbia Sportswear, Schnitzer Steel Industries, and Portland General Electric. Tech and software companies continue to relocate their operations here or open major outposts in Portland. These companies enjoy Portland s educated workforce, affordable high quality of life, and a low cost of doing business compared to the Bay Area. Companies which recently opened major branches in Portland include Airbnb, Google, Squarespace, Mozilla, Simple, Survey Monkey, SalesForce and New Relic, Inc. Portland s tech startup companies include Viewpoint, Jama Software, Thetus, Urban Airship, Acquia, Elemental Technologies, Act-On, Puppet Labs, and The Clymb. TOP 10 LISTS Portland consistently receives glowing reviews and rankings from the media lists include: #4 Best City for Biking (Fast Company) #6 Best Place to Live (U.S. News and World Report) #10 Most Entrepreneurial State (Amazon.com) 2017 lists include: #3 City with Best Opportunities for Job Seekers This Year (Fast Company) 2016 lists include: America s Best City for Summer Travel (Travel + Leisure) Best City for Electric Cars in the U.S. (The Christian Science Monitor) Best Places to Live 2016 (Money Magazine) #8 Greenest City in the Nation (Wallethub) #8, World s Best Cities for Millennials (Matador Network) Food and Drink Capital of America (The Telegraph London) World s #10 Best City to Live In (Metropolis Magazine) 10 HFO INVESTMENT REAL ESTATE

11 PORTLAND MARKET SNAPSHOT MAJOR EMPLOYERS GOVERNMENT The U.S. Federal Government is Portland metro s overall largest employer, with 20,500 workers. The State of Oregon gives employment to an additional 14,000 residents. HIGH TECH & CHIP MANUFACTURING Attracted by the Portland area s educated workforce and relative low cost of doing business, tech companies continue moving to Portland opening major branches and, in some cases, relocating to the area entirely. With over 19,300 employees, Intel is the area s largest private employer. Intel acquired its first Portland location in The company is currently expanding its presence with forthcoming D1X microprocessor chip facilities at the Ronler Acres Campus in Hillsboro. This is part of a five-year, $6 billion expansion, and is part of the company s long-term plans for growth. Intel is the largest property taxpayer in Washington County, with payments of approximately $30 million a year. Other notable Portland-area high-tech companies include ON Semiconductor and Tektronix. SPORTSWEAR Nike has its world headquarters in Beaverton and employs 12,000 Portland-area residents. The company designs, develops and manufactures footwear, apparel, equipment and accessories. From here, Nike orchestrates production and design for one of the world s most recognizable brands. In January, 2015, Nike began a $1 billion expansion of its Washington County campus, adding three buildings with a collective 1.3 million square feet and more than 3,300 parking stalls. Nike recently released artists renderings of the completed expansion, which is estimated to open in Nike s two key competitors have a major local presence as well. Those employers include the North American headquarters of Adidas with 1,200 employees, and a new 70,000 SF outpost of Under Armour. Under Armour has moved 100 employees into an iconic former YMCA. HEALTHCARE AND RESEARCH Health services are another major employment sector for the Portland area. The top healthcare employers in the area are Providence Health Systems, with 17,543 employees, and The Oregon Health Sciences University (OHSU), with 16,200 workers. OSHU is the recent recipient of a total of $1 billion in donations for cancer research from over 10,000 Oregon donors. Grants from the National Institutes of Health totaled $182.7 million in MANUFACTURING In trucking and transportation, Daimler Trucks with nearly 3,000 area workers has big plans for the Portland area. The company recently spent $150 renovating its Portland facility and invests heavily in research and development, including autonomous driving. 11

12 Investment Real Estate Passion Collaboration Specialization 2424 SE 11th Ave Portland, OR (503)