Investor purchases recently renovated suburban Portland, OR office property

 

Logan Greer

 PORTLAND, OR, May 12, 2021 – JLL Capital Markets announced today that it has closed the sale of 5550 Macadam, a 43,151-square-foot, suburban office building in Portland, Oregon.

5550 Macadam, Portland, OR

 JLL represented the sellers, ScanlanKemperBard and WHI Real Estate Partners, and procured a local private buyer, advised by City and State Real Estate.

 Recently renovated in 2019, 5550 Macadam is a three-story building with updated common areas, locker rooms and restrooms, a modern light filled lobby and lush landscaping.

The property offers 14,000-square-foot floorplates and is 89% leased with current tenants averaging 9.8 years of occupancy.

Buzz Ellis

5550 Macadam is positioned within the Southwest Close-In submarket of Portland, and more specifically, the Johns Landing micro market, which offers easy access to the central business district and Portland’s freeway system.

This area is also highly amenitized with a variety of restaurants, hotels and retailers and is located just one mile south from Oregon Health & Science University’s South Waterfront campus expansion.

Adam Taylor

The JLL Capital Markets team representing the seller was led by Buzz Ellis, Logan Greer and Adam Taylor.

 “This offering generated a significant amount of investor interest as the office market starts to return to pre-COVID levels,” Ellis said.

 “5550 Macadam has an outstanding urban location with high accessibility and suburban conveniences that was attractive to many buyers.”

CONTACT:

Kristen Murphy

Senior Manager

Public Relations

 Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

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