2/26/2008

Joint venture acquires Portland's Morgan Building for $27.5M

by
A joint venture between Boston, Mass.-based Great Point Investors and the newly formed Urban Renaissance Group has purchased the Morgan Building in Portland, Ore., for $27.5 million from the Los Angeles County Employees Retirement System.

The building is located at 720 SW Washington Ave. and contains 156,984 square feet. It was built in 1912, renovated in 2005 and serves as the corporate headquarters for McCormick & Schmick's Seafood Restaurants Inc. Current office tenants include Boora Architects, Durham & Bates and Quantec, a consulting firm.

The purchase marks the second acquisition for the Great Point/Urban Renaissance Group venture. In August 2007, the firms purchased the 61,000 square foot Sherlock Building in Portland for $9.75 million.

Address: 720 SW Washington St., Portland, Ore.

Size: 156,984 square feet

Built: 1912

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Filed Under: Office

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