Adaptive Reuse Gains Momentum Across Workspace’s High-Quality Nationwide Suburban Office Portfolio
Workspace Property Trust (Workspace), the premier suburban commercial office owner and operator, today announced that RAJ Sports, the sports investment platform for the Bhathal Family, owners and operators of the NWSL’s Portland Thorns FC and the new Portland WNBA franchise, signed a 15-year lease agreement for two office buildings and surrounding land, located at 3220 & 3340 NE Aloclek Drive in Hillsboro, a suburb of Portland. RAJ Sports will develop the first dual-sport professional women’s performance center to support both its NWSL and WNBA teams.
Workspace collaborated with RAJ Sports over several months to craft a lease and development plan to repurpose 100,000 square feet of building area over 12 acres. The plan calls for the creation of two full-sized soccer pitches with an outdoor training zone, two full-sized basketball courts, two dedicated dressing rooms, state-of-the-art facilities dedicated to strength training, conditioning, and recovery, as well as office spaces and family rooms.
“At Workspace, we take pride in being the best possible partners to our tenants, and that partnership begins well before a lease is signed,” said Tom Rizk, Co-Founder, Chairman, and CEO of Workspace. “We’re excited to have structured a tailored partnership that enables RAJ Sports, leaders in the sports world, to bring their vision to life at one of our prime Workspace locations in Hillsboro, a highly sought-after area in Greater Portland. We remain committed to identifying creative opportunities that help both current and future tenants reimagine traditional office space to meet their unique needs.”
“With our expertise in operating professional sports teams and large-scale real estate developments, we were able to identify this property and partner with Workspace Property Trust, to create a world class performance center for our athletes. The project achieves our goal to create the most inclusive and welcoming environment for our athletes, staff, supporters, fans, partners and community as we strive to be an elite organization on the field, on the court, and in the community,” said Alex Bhathal of RAJ Sports.
This lease secures the Thorns and the Portland WNBA franchise as anchor tenants at Workspace’s Evergreen Corporate Center, occupying 50% of the space. Approximately 160,000 square feet remain available for R&D or office use, and Workspace is actively in discussions with potential tenants. With Hillsboro’s strong market demand, the addition of the women’s professional sports complex, and the property’s history as a former Nike office, the site is now a highly desirable destination for businesses seeking space in the area.
“Since our inception, we have intentionally built a portfolio of approximately 200 high-quality assets in prime suburban locations across more than a dozen top metropolitan areas, recognizing that a great workspace starts with a great location—one that is convenient, accessible, and enhances our tenants’ daily lives. As suburban office space continues to evolve – while outperforming downtown office – we are proud to lead the industry in innovative adaptive reuse,” added Roger Thomas, Co-Founder, President, and COO of Workspace.
In addition to this Hillsboro announcement, Workspace has developed several innovative adaptive reuse projects across its portfolio, including multiple long-term leases with Loloft, an industrial coworking startup that has developed its co-warehousing model within Workspace properties in Phoenix, Arizona, and Tampa, Florida. Workspace is also seeing growing demand for office space conversions into data centers, charter schools, multifamily properties, and other sports-related facilities.
To learn more about Workspace Property Trust, or inquire about office space, please visit https://www.workspaceproperty.com.
About Workspace Property Trust
Workspace Property Trust is a privately held, vertically integrated, full-service commercial real estate company specializing in the ownership, management, leasing and development of office and light industrial, R&D and flex space across the US. Founded in 2015, Workspace owns and operates twelve office properties in South Florida and approximately 19 million square feet of suburban office and light industrial properties in markets across the country, including 14 of the top 20 US metropolitan areas. For more information on Workspace, please visit www.workspaceproperty.com.
About RAJ Sports
RAJ Sports, led by Alex Bhathal and Lisa Bhathal Merage, focuses on investment opportunities in sports and sports-related properties, drawing on the Bhathal family’s multi-generational experience and relationships in the industry. The firm seeks to leverage the power of sports to affect broader social and economic change through a variety of business and philanthropic strategies. Its deep experience in professional sports operations and large-scale real estate developments that create thriving community centers, positions the firm to deliver valuable assets that will support further growth for the players, staff, and fans. In 2013, the Bhathal family became investors in the Sacramento Kings (NBA); subsequently building the platform to include the Sacramento RiverCats (MiLB), Stockton Kings (NBA G-League) and several sports anchored real estate developments. The 2024 acquisitions of Portland Thorns (NWSL) and the WNBA Portland expansion team represents a milestone for the city of Portland and places it at the epicenter of growth for women’s sports.
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