European investor buys Portland office campus
CBRE Global Investors, on behalf of a European separate account client, has acquired an office campus located in the heart of downtown Portland, Ore. A sales price was not disclosed.
The Park Square Campus is a class A, two-building campus, totaling 295,767 square-feet. The property is 97.5 percent leased to a quality roster of investment-grade tenants with a weighted average lease term of 8.7 years.
Park Square was recently renovated including an 8,000-square-foot great room connecting the two buildings, a patio, onsite restaurant, updated lobby and secure bicycle parking with lockers, as well as 24-hour security and card key access.
“With a strong job market and an unemployment rate that has fallen below the national average, coupled with its natural beauty, Portland is a desirable market benefiting from its role as a relatively low-cost tech hub as well as its diverse roster of other industries,” said Stu Sziklas, managing director and