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Park Square 2 Office Properties in Portland, OR
INVESTMENT HIGHLIGHTS
- 100 Market 76% leased to Oregon DOJ for 10 years (no termination options)
- Potential for owner-user to fully occupy Woolworth while reducing occupancy costs with existing income
- Ideally positioned between Tom McCall Waterfront Park and Portland’s Performing Arts District
- Attractive low-basis acquisition providing a compelling value-add investment
- Strikingly renovated grand atrium with soaring ceilings, ideal for tenant events and large gatherings
EXECUTIVE SUMMARY
Kidder Mathews, as exclusive advisors, is pleased to present the opportunity to acquire Park Square (the Property), a 295,962 square foot, two building office project located in Portland, Oregon. The Property, surrounded by greenspace and adjacent to Portland’s Waterfront Park, offers immediate access to numerous retail destinations and easy access to multiple transportation nodes including I-5, US 26, I-405 and public transportation.
The 100 Market building is seven stories comprised of approximately 113,913 rentable square feet and is currently 76% occupied predominantly by Oregon Department of Justice (78,799 SF) through June 30, 2035. The Woolworth Building is six stories comprised of approximately 182,049 rentable square feet and is currently vacant. Recent renovations include a striking grand atrium ideal for corporate gatherings.
Park Square represents a unique investment opportunity for an owner-user or investor looking for stable cash flow with tremendous upside in leasing the vacant space. Although the Portland office market has softened over the last couple years, there are signs of a bottom as the Bureau of Labor Statistics projects Portland employment growth will hit 3.7% through 2029, exceeding the national projected rate of 3.4%.
The 100 Market building is seven stories comprised of approximately 113,913 rentable square feet and is currently 76% occupied predominantly by Oregon Department of Justice (78,799 SF) through June 30, 2035. The Woolworth Building is six stories comprised of approximately 182,049 rentable square feet and is currently vacant. Recent renovations include a striking grand atrium ideal for corporate gatherings.
Park Square represents a unique investment opportunity for an owner-user or investor looking for stable cash flow with tremendous upside in leasing the vacant space. Although the Portland office market has softened over the last couple years, there are signs of a bottom as the Bureau of Labor Statistics projects Portland employment growth will hit 3.7% through 2029, exceeding the national projected rate of 3.4%.
PROPERTY FACTS
| Sale Conditions | Individually For Sale | 0 | |
| Sale Type | Investment or Owner User | Total Building Size | 309,312 SF |
| Status | Active | Total Land Area | 3.50 AC |
| Number of Properties | 2 |
| Sale Conditions | |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 309,312 SF |
| Total Land Area | 3.50 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
100 & Woolworth
1621 SW 1st Ave, Portland, OR 97201 |
Office | 211,680 SF | 1969 | - |
|
100 Market at Park Square
100 SW Market St, Portland, OR 97201 |
Office | 97,632 SF | 1969 | - |
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CONTACTS
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Peter Beauchamp -
Patrick Gardner -
Sean McCarthy -
Nathan Thinnes -
Brandon O'Leary -
Darren Tappen -
Kidder Mathews
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