Description de l'actif
JLL, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in the Porter Building (hereafter, “the Property”), in Portland, Oregon. Constructed in 1898 and seismically upgraded during its renovation in 1980, this vintage office building offers owner-users a unique acquisition opportunity to establish their presence in the heart of the city through rare seller financing with negotiable terms. Spanning three floors and encompassing approximately 12,084 square feet, the Property boasts historical charm, while being strategically located in downtown Portland with easy access to public transportation and attractive community amenities. The Property has in-place cash flow from its ground floor retail tenant, Tangier Restaurant, a neighborhood favorite since its opening in 2016 that serves Moroccan and Mediterranean fare. Complimenting this is a vacant turnkey restaurant/bar space, giving future owners the opportunity to lease the space to a tenant with minimal associated costs.
The upper floors offer move-in-ready creative office spaces, with two in-place tenants leasing over 1,800 square feet on month-to-month lease structure, giving potential owner-user the flexibility to pursue different investment strategies, including the opportunity to restructure existing lease agreements to secure long-term revenue while maximizing the building’s potential. The combination of the Property’s historical charm, prime location, and the availability of rare seller financing with negotiable terms stands ready to accommodate a variety of owner-users looking to make their mark in Portland’s central hub.
Caractéristiques de l'actif
Points clés d'investissement
- Optionality for owner-users
- Flexible seller financing availability
- Favorable access
- Historical ground floor retail performance
- Turnkey retail space