March 21, 2018
Newport Beach, CA-based KBS Growth & Income REIT signed a new 19,948-square-foot lease with Otoharmonics Corporation at the Commonwealth Building in Portland, OR. Situated in the heart of downtown at 421 SW 6th Ave., the 14-story, Class A office tower includes 224,122 square feet of space.
One of Portland’s first mid-century design towers, the asset was repositioned in 2008. It is now considered a higher-purpose creative property, with onsite amenities that include a rooftop deck, tenant lounge, conference room, fitness center and locker rooms.
The building is also one of the initial properties included in the non-traded real estate investment trust’s first online direct-investment fund available on KBSDirect.com. The fund allows accredited investors to invest directly in high-quality, well-located properties without paying up-front fees or commissions.
The tenant, which has developed the patented Levo System for the management of tinnitus symptoms, was self-represented. CBRE’s Kevin Kaufman handles building leasing.
For comments, questions or concerns, please contact Dennis Kaiser