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January 24, 2019
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CBRE Global Investors Buys Creative Office Property in Portland


CBRE Global Investors has purchased the historic Towne Storage, a 100k sf, Class A office property in Portland, OR. Located on a half block in Portland’s Central Eastside submarket, the property is fully net-leased to Autodesk In., an investment-grade credit tenant.

Autodesk Inc is relocating its current operations from Lake Oswego to Towne Storage. The property is now a major part of the creative office movement sweeping Portland’s Central Eastside, a submarket historically dominated by industrial manufacturing and distribution.

Nick Kucha and James Childress with NKF Capital Markets represented the seller, an entity owned by certain funds managed by Westport Capital Partners LLC. CBRE Global Investors represented itself in the deal. The price was not disclosed.

“The sale of Towne Storage is a testament to Portland’s on-going appeal to institutional investors’ appetite for best-of-class investment opportunities,” said Kucha.

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