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| One Pacific Square, 220 Northwest Second Avenue, Old Town/Chinatown Neighborhood, Portland, OR |
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| Nick Kucha |
PORTLAND, OR – HFF announced it has closed the $48.5 million
sale of One Pacific Square, a 240,338-square-foot, transit-oriented
office tower in the Old Town/Chinatown district in Portland, Oregon.
HFF
marketed the property on behalf of the seller, a joint venture between GE Asset
Management and The Ashforth Company.
Menlo Equities was the buyer.
The
only office tower in Old Town/Chinatown, One Pacific Square has panoramic views
of Mt. Hood, Mt. St. Helens, the Willamette River and downtown Portland.
The building is situated on 0.872 acres at
220 Northwest Second Avenue between Northwest Everett and Northwest Davis
Streets.
The building has a Walk Score® of 94 due to the
transit-oriented nature of the building’s location, with the Old Town/Chinatown
MAX Light Rail stop directly outside the property and several TriMet bus routes
within walking distance.
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| Michael Leggett |
Additionally, the property’s on-site bike storage
contributed to the Bike Score™ of 98.
The 13-story tower has below-grade parking with a valet attendant, first
floor conference facilities and an on-site gourmet coffee shop and deli.
The property is 94.8 percent leased to a
variety of tenants in the natural gas, telecommunications, real estate,
accounting and health insurance industries.
The
HFF investment sales team was led by director Nick Kucha, senior
managing director and co-head of HFF’s national office investment sales
platform Michael Leggett and senior real estate analyst James
Childress.
For a complete
copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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