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June 22, 2024
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Suburban Portland Office Building Gets New Owner

5/17/21

A 43.2k sf, suburban office building in Portland was acquired by a local investor. The price was not disclosed.

The three-story building is located at 5550 Macadam, east of I-5 and next to the Willamette River. It was recently renovated in 2019 and has updated common areas, locker rooms and restrooms, a modern light filled lobby and lush landscaping. The property offers 14k sf floorplates and is 89% leased with current tenants averaging 9.8 years of occupancy.

5550 Macadam is positioned within the Southwest Close-In submarket of Portland, and more specifically, the Johns Landing micro market, which offers easy access to the central business district and Portlandís freeway system. This area is also highly amenitized with a variety of restaurants, hotels and retailers and is located just one mile south from Oregon Health & Science Universityís South Waterfront campus expansion.

Buzz Ellis, Logan Greer and Adam Taylor with JLL represented the seller, ScanlanKemperBard and WHI Real Estate Partners.. The buyer was repped by City and State Real Estate.





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