Score a huge win for suburban office space owner Workspace Property Trust.
The firm signed the owner of the Portland Thorns professional women's soccer team, as well as a planned future WNBA franchise, to a two-building office lease on a site that will become home to a training facility for both squads.
RAJ Sports agreed to a 15-year deal in Hillsboro, Oregon, outside Portland, Workspace and RAJ said Thursday in a statement. RAJ is the sports investment business of the Bhathal family, owner and operator of the NWSL's Thorns and the yet-unnamed WNBA team expected to tip off in 2026. The Bhathals also own a stake in the NBA's Sacramento Kings.
The $150 million development of the training facility on 12 acres of vacant land represents the first time two U.S. women's professional sports teams would work out and practice at the same center, according to the firms.
The two office buildings at 3220 and 3340 NE Aloclek Drive
were formerly occupied by Nike, the statement said. The space totals 100,747 square feet, CoStar data shows.
“When we acquired the Portland Thorns and the Portland WNBA franchise our family committed to investing into the Thorns, the WNBA franchise, and the Portland metro region” Lisa Bhathal Merage, co-founder and managing partner of RAJ, said in the statement. “Building an innovative training facility that provides the best possible environment for our athletes across professional soccer and professional basketball will be a game changer for women’s sports.”
Workspace Property Trust and RAJ’s development calls for the creation of a 63,000-square-foot training facility; a 17,000-square-foot practice gym featuring two full-size basketball courts; two full-size soccer fields; and a 5,000-square-foot space for strength training.
The lease secures the two teams as anchor tenants at Workspace’s Evergreen Corporate Center, occupying 50% of the four-building campus. Workspace is actively in discussions with potential tenants for the remaining 160,000 square feet, according to the firm.
Corporate giants Nike and Intel dominate employment and office space usage in Sunset Corridor/Hillsboro market where Evergreen Corporate Center is located. However, both companies have announced recent major cost-cutting initiatives, according to CoStar analysis. And office space demand has slowed down considerably.
More space has been leased than vacated in the market over the past 12 months with positive absorption at 34,000 square feet, CoStar data shows. That’s down from the 10-year average annual gain of 250,000 square feet.