Goldman Sachs Acquires Portland Office Asset

The $25.7 million sale price is twice the amount paid in 2013 by the building's previous owner, Melvin Mark.
Thurman Building

Thurman Building in Portland’s Goose Hollow submarket has changed ownership, according to data available on Yardi Matrix. Goldman Sachs bought the 65,000 square-foot office asset from Melvin Mark Cos. in a $25.7 million transaction. The price is twice the previous owner paid for the property in 2013. Melvin Mark will continue to manage the building and lead all leasing efforts.

The four-story development is located at 1631 N.W. Thurman St. near the Willamette River. It was originally built in 1900 as an industrial facility known as Bridgetown Building and converted to office in 1998, when a fourth floor was added. The building underwent cosmetic renovations in 2012.  

Thurman Building is located across the street from Polaris Dance Theater and a few blocks from MODA Tower, one of the largest office developments in downtown Portland. The property can be accessed via Interstate 405. Its tenant roster includes company names such as Ambrosini Design, Christenson Corp. and CMD.

Image courtesy of Yardi Matrix