The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
November 20, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Portland’s Iconic PACWEST Office Tower Undergoes Major Renovation

8/30/19

PACWEST, an iconic 550k sf, 30-story Class A office tower in the heart of Downtown Portland, has just undergone a major renovation. LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, acquired the property formerly known as Pacwest Center in 2016 on behalf of a pension fund client.

Located at 1211 SW 5th Ave and originally developed in 1984, PACWEST ranks among both the tallest and largest office properties in Portland. The tower contains 29 floors of office space over ground floor retail plus three levels of underground parking.

PACWEST is located at the epicenter of Portland’s 57-block Transit Mall in the city’s central business district, featuring immediate public transportation access with MAX lightrail and bus stops directly in front of the building. The building is also surrounded by numerous amenities including many of Portland's most popular cultural attractions, while the downtown retail core is within blocks of the property as are several top-rated hotels.

Focused on creating the ideal tenant experience, LPC has since invested substantial capital into the project via high quality design features throughout the tower in addition to brand new indoor and outdoor amenities focused on health, well-being, and social engagement. GBD and West of West Architects assisted with the design of the upgrades and transformative efforts.

The renovations and amenities package completed on the property includes a reimagined two-story lobby that embraces the building’s omnipresent curvilinear design, and sets a new standard of excellence for forward-looking office tenants. There are new conference and meeting facilities, and a full-service tenant lounge which opens to a large outdoor terrace with countless areas to meet, collaborate, and relax. There is also a new state-of-the-art fitness facility with innovative equipment, fitness on demand, steam rooms, towel service, and contemporary finishes designed to inspire and ignite tenants’ mental and physical well-being. Finally, engaging the city’s expanding cyclist population, PACWEST has a new indoor bicycle hub with its own dedicated shower and locker facilities, automated entries, and bicycle repair and wash areas.

Lana Baldock and Dan Swift of Cushman & Wakefield’s Portland office are responsible for the tower’s office leasing with Dan Bozich of Urban Works Real Estate handling the retail leasing.

Patrick Gilligan, Executive Vice President, LPC West said, “We set out with the mission of providing a best-in-class and thoughtful amenity package, while ensuring that we celebrated the building’s original architectural characteristics and iconic status in the Portland marketplace. We could not be more satisfied with the results.”

Lana Baldock, Managing Director, said, “In acquiring this asset, LPC capitalized on a rare market opportunity, and they have remained steadfast in their vision and goal to transform this tower into a new and improved modern marvel. With these new one-of-a-kind upgrades and well-appointed design and amenity elements, PACWEST instantly becomes a centerpiece for Downtown Portland raising the bar for office buildings in our region.”

PACWEST currently houses a strong tenant mix ranging from professional and creative services and technology companies. The building transformation has helped attract significant new leasing activity, including two full floor leases to Technolutions on the 26th floor and KeyBank on the 20th floor.

Notably, the top two floors (29 and 30), have recently become available. A rare opportunity, this will be the first time in over two decades that these top two floors are being offered to the market on a for-lease basis.






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media