Pacwest Center, Portland

December 22, 2016 Comments Off on $170M Portland Office Sales Price Highest for 2016 Views: 231 National News, Oregon, West

$170M Portland Office Sales Price Highest for 2016

The Ashforth Co. sold Portland, OR’s Pacwest Center to LPC Realty Advisors I LP, an affiliate of Lincoln Property Co. The sales price of $170 million was the highest paid for a Portland office building so far, this year. Nick Kucha and Michael Leggett with HFF brokered the transaction.

The 545,000-square-foot asset at 1211 S.W. 5th Ave. is 76% leased to tenants including Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Company. The new buyer plans to upgrade the building , by working on the common areas, main lobby and shared amenities.

According to property records, Pacwest Center last traded hands in 2007 for $161.5 million.

Read More at Portland Business Journal

Connect with HFF’s Kucha

Connect with HFF’s Leggett

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