February 22, 2017
Urban Renaissance Group, headquartered in Seattle, is ending its close to three-year-hold on the approximately 165,000-square-foot office building at 1320 Broadway in Portland. The owner retained Eastil Secured to put the building on the market for an asking price of $92 million. URG acquired the building in 2014 for $14.2 million.
Designed by Pietro Belluschi, the building underwent a multimillion-dollar remodel, and is close to leased up with tenants including Elemental Technologies and D+H Financial Technologies. Tech firm Elemental Technologies inked a deal in 2016 for 101,000 square feet. Meanwhile, D-H Financial took 45,000 square feet. Additional tenants include an architecture firm and Ristretto Roasters, which is opening a café in the lobby.
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