December 11, 2018
The historic Central Courthouse located at 1021 SW 4th Avenue in downtown Portland, OR has traded for $28 million. Portland-based NBP Capital, LLC acquired the century-old building, which is listed on the National Register of Historic Places, from Multnomah County.
The building is currently home to the County’s court operations, and the County will continue to lease the property until completion of its new Central Courthouse at SW 1st Avenue and SW Madison Street in 2020. Built between 1909 and 1914, the eight-story, neo-classical building has a gross building area of 323,486 square feet.
CBRE’s Charles Safley and Graham represented Multnomah County in the sale.
NBP Capital’s Ryan Feigelson says, “Our team at NBP Capital is grateful for the opportunity to preserve, protect, and renovate one of the most special assets in the Portland-Metro. This acquisition fits perfectly within our long-term business plan to acquire and convert value-add real estate investments within the central city.”
For comments, questions or concerns, please contact Dennis Kaiser