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7/20/17
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Pearl West, a newly developed, 155.5k sf Class A office tower in Portland, OR, was acquired by LaSalle Investment Management. The price was not disclosed.
Completed in 2016, Pearl West is a LEED Gold-certified, mid-rise office tower that blends creative office suites with high-street retail. The property features 17.8k sf typical floorplates, parking for 150 vehicles, storage for 87 bicycles and tenant shower and locker facilities.
Currently, 89% leased, Pearl West is home to such tenants as Wacom, Zoom+, Regus and Howard S. Wright. The property anchors the west side of Portland’s Pearl District and is situated directly next to Interstate 405, providing visibility to more than 120,000 vehicles per day.
Additionally, the property has a Walk Score® of 98, a Transit Score® of 90 and a Bike Score® of 97 being located within a quarter mile of more than 2,200 apartment units, 1.5 msf of office space and more than one million square feet of retail space.
HFF’s Nick Kucha, James Childress and Logan Greer represented the buyer and the seller, Walter C. Bowen’s BPM Real Estate Investments LLC.
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