Switching Accounts please wait...
Generating Advisor Account please wait...

Portland Office Building

NEW DEALS

A partnership including ScanlanKemperBard has acquired a 208,000-square-foot office property in Portland, Ore., for $40 million, or $192/sf. The capitalization rate is roughly 5%. The seller was local investor John Beardsley. CBRE arranged the sale, which closed Oct. 24. The 73%-leased building, at 309 SW Sixth Avenue, is known as the Historic U.S. Bank Block. Tenants include Oregon Entrepreneurs Network, Sitka Technology, Small Business Innovations and Thetus. ScanlanKemperBard, based in Portland, made the purchase in partnership with an unidentified institutional investor. They plan to spend some $3 million on renovations.

 

SCROLL