U.S. Bancorp Tower

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire U.S. Bancorp Tower (the “Building” or “Property”), a 42-story, 1.15 million square foot asset that is widely regarded as the most iconic office tower in the Pacific Northwest. Situated on a super-block in Portland’s North CBD, the Property presents a one-of-a-kind opportunity to rebrand and reimagine an irreplicable asset. Portland will never see another building like U.S. Bancorp Tower considering the asset’s extraordinary scale and the complete absence of new development planned in the urban core for the foreseeable future.

Originally designed by Skidmore, Owings & Merrill as U.S. Bank’s headquarters, combined with decades of institutional ownership, buyers will benefit from significant historical capital improvements ($18M since 2016), allowing them to focus on accretive go-forward capital investments. This groundwork combined with the ability to acquire the asset at a generationally reset basis, presents a singular opportunity to implement transformative amenity enhancements that meet and exceed the new standard of tenant expectations for the workplace. Additionally, the Property’s expansive Plaza Building provides an investor the flexibility to pursue alternative uses in conjunction with the office tower, such as an entertainment venue or hospitality use.

Strategically positioned at the nexus of the North CBD and the vibrant Pearl District, the Property is poised to benefit from the ongoing resurgence of Downtown Portland. The city is experiencing a wave of new safety and health initiatives, breathing new life into the urban core. As the streets of the downtown core continue to experience a reinvigorated energy, the Pearl District and West End micro markets have developed a gravitational pull of tenant demand and pedestrian activity. The “Pull of the Pearl” effect, fueled by a thriving amenity set and cultural scene, is steering momentum towards the North CBD, enabling a reimagined U.S. Bancorp Tower to capitalize on the limited remaining inventory in these thriving neighborhoods.