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5/03/19
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Field Office, a Class A, two-building, 287.2k sf mixed-use project along River Promenade within Portland’s Pearl District, was acquired by a venture of the Merchant Banking Division of Goldman Sachs, in partnership with Lincoln Property Company. The price was $118 mil ($410/sf).
Completed in 2018, Field Office is located at 1895 and 2035 Northwest Front Ave, adjacent to Willamette River. Situated just north of and easily accessible to Downtown Portland, the property is adjacent to Interstate 405 and is directly across the street from 648 new multifamily units, in addition to more than 600 proposed within the submarket.
The LEED™ Platinum certified property is situated on 2.3 acres and features large flexible floorplates, on-site daycare, large courtyard area with seating and fire pits, fitness center, executive rooftops with city and river views, and below-grade parking, among other modern amenities. NAIOP/CAB awarded the project the 2018 Office Development of the Year.
NKF Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Nick Kucha and Steven Golubchik, and Directors James Childress and Bill DeLacy represented the seller, a venture of National Real Estate Advisors LLC and developer Project^. The buyer represented itself.
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