Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1906
Building Area Net
Occupancy 38.0 %

Asset Description

Historic Bank Block is a unique value-add opportunity in Portland’s downtown core consisting of the Wells Fargo Building, U.S. Bank Building, and the Motor Bank Building which includes three full floors of structured parking totaling 83 stalls. The Property has undergone extensive renovations that preserve the Property’s historical elements while simultaneously catapulting the asset into the top tier of creative office options, with market-leading elements such as a supersized fitness center, interior courtyard terrace, open, light-filled spaces, expansive city views, and elegant building finishes.


With major renovations completed and tenant-ready space available, new ownership has the opportunity to stabilize the Property with low capital costs while benefiting from the in-place and parking income. As the Portland office market recovers from the Covid-19 Pandemic, Historic Bank Block will capture tenants looking for immediately available, highly-amenitized space - ultimately positioning the asset for a core exit.

Investment Highlights

  • Creative CBD repositioning opportunity
  • Ability to deliver a hybrid of creative spaces and historic appeal
  • Rare, large contiguous blocks of available space
  • Optimal CBD located in the center of Portland's tech ecosystem
  • A substantial discount to replacement cost
  • Strong supplemental income through parking, data center, and antenna revenue
  • Best-in-class amenity package
  • 0.38 / 1,000 SF parking ratio
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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