10/10/2007

CBRE negotiates purchase of three-building office portfolio in Portland

by

Oregon Pioneer Building

Hamilton Building

Loyalty Building

Beardsley Building Development acquired three office buildings totaling 160,000 square feet in Portland's business district for $18 million from Spring Capital Group.

Lou Lauman, Raymond Duchek and Chris Coutts of CB Richard Ellis' Portland office represented Beardsley.

Lauman is a senior vice president and senior broker for the Portland Investment Group. He was named "Investment Broker of the Year" in 2002.

Duchek is a senior associate and is a founding member of the CBRE's Investment Properties Oregon.

Coutts is a sales associate and since joining CBRE in 2005 has sold 15 properties.

The three-building portfolio includes the Oregon Pioneer Building at 300-328 SW Stark St., the Hamilton Building at 529 SW 3rd St. and the Loyalty Building at 317 SW Alder St. It was part of a larger portfolio of buildings purchased by Spring Capital in 1998.

All three buildings, built between 1889 and 1928, are on the National Register of Historic Places. Portland's oldest restaurant, Huber's, is a tenant in the Oregon Pioneer Building.

The Hamilton and Loyalty buildings were each 50-60 percent leased, while the Oregon Pioneer Building was 90 percent.

Address: Oregon Pioneer, 300-328 SW Stark St, Hamilton, 529 SW 3rd St, Loyalty 317 SW Alder St., all in Portland, Ore.

Size: 159,500 square feet

Built: Oregon Pioneer 1910, Hamilton 1893, Loyalty 1928

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Filed Under: Office

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