Citrine Advisors Acquires Historic Portland Office Building
- Aug 17, 2017
Citrine Advisors acquired the Concord Building—a 27,500-square-foot office building in the heart of Portland’s central business district—from New Urban Properties for $5.3 million.
The Concord Building was completed in 1891 and underwent renovations in 1981 and 2016. Situated at 204-210 SW Stark St., the six-story property features creative office space and ground floor retail, anchored by Mother’s Bistro & Bar. The location offers easy access to bus stations, restaurants and hotels, including DC Vegetarian, Hi-Lo Hotel and The Nines. The office building sits fewer than two miles from Interstates 5 and 405.
Charles Safley of CBRE Capital Markets represented the buyer, while Paige Morgan of JLL’s Capital Markets Group negotiated the sale on behalf of the seller. Additionally, CBRE secured a non-recourse, acquisition bridge loan. Last month, Morgan was also involved in the sale of Interstate Crossroads Distribution Center, a recently completed warehouse and distribution center in Portland.
Image via Google Street View