February 13, 2020
JLL Capital Markets secured $41.39 million in financing for Harrison Square, a 187,000-square-foot office building in Portland’s South Central Business District. The borrower was Portland-based Libertas Companies.
The six-year, floating-rate loan was placed with a national money-center bank. Loan proceeds were used to acquire the office building and provide a portion of future leasing costs.
Harrison Square is located at 1800 SW 1st Ave. in the Southern End Innovation District, surrounded by major employers such as Oregon Health Sciences University, Portland State University, Under Armour, Jacobs Engineering and Cambria. Recently renovated in 2019, the 93%-leased property comprises two, six-story buildings connected on each level via a sky bridge, and a 265-space, below-grade parking garage.
JLL’s Zachary Kersten and Casey Davidson represented the borrower.
Kersten says, “Harrison Square presents tenants a great opportunity to be positioned in a transit-oriented location with ample parking, quick access to the close-in Eastside and the overall Greater Portland freeway network.”
For comments, questions or concerns, please contact Dennis Kaiser