December 6, 2017
Santa Monica, CA-based Vista Investment Group acquired the historic 67,000-square-foot U.S. Customs House in Portland, OR from Eastern Real Estate for $30 million. Designated as a Portland Historic Landmark, and listed on the National Registry of Historic Places, the 1901-era property is considered one of the most ornate and intact historic buildings in Portland.
WeWork leases the entire building located at 220 NW Eighth Ave. in the Pearl District.
Vista’s Jonathan Barach notes “… The U.S. Customs House is an irreplaceable building in the Pearl District of Portland, and we consider it one of the jewels in our portfolio.”
Vista has acquired other architecturally significant, historic buildings in transformative urban neighborhoods on the West Coast, including the original 82,000-square-foot Boeing corporate HQ in Seattle’s Georgetown neighborhood; and the 50,000-square-foot Jensen’s Recreation Center in Los Angeles’ Echo Park district.
JLL’s Paige Morgan, Buzz Ellis and Peter Furest handled the sale.
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