HFF Closes $29M Portland Office Sale
- Aug 07, 2017
After securing the $11 million sale of Willow Creek Shopping Center, a value-add retail center in Denver, HFF closed the $28.5 million sale of Sixth at Yamhill, a Portland, Ore., Class A office building consisting of 109,725 square feet. Senior Managing Director Nick Kucha, Director James Childress and Associate Logan Greer led the team that represented the seller, Swift Real Estate Partners. KBSRA Sixth at Yam LLC, a joint venture between True North and KBS, acquired the asset.
Located at 811 SW 6th Ave., Sixth at Yamhill is situated at the corner of Southwest Yamhill Street and Southwest Sixth Avenue in downtown Portland. The creative-office property offers access to light rail, buses, parking garages and restaurants.
Originally constructed in 1956 and completely renovated in 2016, the 11-story building features 9,600-square-foot floor plates and a fitness center. Additionally, the property offers 4,000 square feet of retail space. According to data provider Yardi Matrix, Sixth at Yamhill first traded in 2014 when JB Matteson sold the asset for $21.1 million, or $183,48 per square foot.
Image courtesy of Yardi Matrix