November 9, 2016
CBRE Global Investors bought Park Square Campus, a 295,767-square-foot, two-building office campus in downtown Portland, OR. CBRE struck the deal with seller Clarion Partners, on behalf of a European client. The sales price was undisclosed, but according to Multnomah County property records, the 45-year-old property has a real-market value of $66.4 million.
During its hold, Clarion Partners renovated the asset at 100 S.W. Market St., adding amenities such as an on-site restaurant, bicycle parking, 24-hour security and card-key access. Renovations also included an 8,000-square-foot Great Room connecting the two office buildings.
“With a strong job market and an unemployment rate that has fallen below the national average, coupled with its natural beauty, Portland is a desirable market benefiting from its role as a relatively low-cost tech hub as well as its diverse roster of other industries,” said Stu Sziklas with CBRE Global Investors Americas. “The quality and location of Park Square make it an ideal fit for our client’s portfolio.”
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