November 1, 2016
Kensington Investment Group LLC bought Portland, OR’s 88,797-square-foot Board of Trade building from New Urban Properties. Kensington paid the seller $18 million for the downtown office building, close to twice as much as the $9.8 million paid in 2014.
Kensington was self-represented in the transaction. Buzz Ellis and Paige Morgan with JLL represented New Urban Properties.
The 11-story Board of Trade building at 310 S.W. Fourth Ave., was built in 1909. At present, the building is 65% occupied, with tenants including Dao Architecture, Basic Rights Oregon, and the Oregon Public Health Institute. Kensington plans a multi-million dollar renovation to upgrade the building’s empty spaces into an open-floor concept.
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