CBRE Buys Portland Office
- Apr 26, 2018
CBRE Global Investors has acquired Towne Storage, a 100,022-square-foot Class A office building in Portland, Ore. NKF Capital Markets arranged the sale on behalf of the seller, an entity owned by certain funds managed by Westport Capital Partners LLC. The buyer was self represented in the deal.
Located at 17 SE 3rd Ave. the property is alongside the Burnside Bridge, near the NE M L King & E. Burnside light rail and bus stop. The office building also provides access to Interstate 84.
Towne Storage is a more than 100-year-old warehouse that has recently been renovated and repositioned as an office building. The property is currently occupied by Autodesk Inc. Before the repositioning, Towne Storage provided mini storage units and rentable space for artists and small businesses, according to Next Portland, a website dedicated to providing insights on what’s being built in Portland.
“The sale of Towne Storage is a testament to Portland’s ongoing appeal to institutional investors’ appetite for best-of-class investment opportunities,” said Nick Kucha, vice chairman of NKF Capital Markets.
Image courtesy of NKF Capital Markets