$77.5 Million Non-Performing Office Loan
US - Washington, DC
NZ$123,842,000 | 28,508 m²
JLL, as exclusive advisor for the seller, is pleased to present the opportunity to lease or acquire the 100 percent fee simple interest in Pine Street Market (or the “Property”) located at 126 SW 2nd Ave in Portland, Oregon. The fully renovated, 28,898 square foot mixed-use building features an award-winning ground floor food hall and two upper floors of move-in-ready creative office space available for tenants looking to relocate to a highly-amenitized, seismically upgraded building in an urban location. This opportunity also offers potential owner users the rare opportunity to acquire a recently improved, one-of-a-kind building with existing in-place income and lease-up potential.
Originally built in 1886 as a livery and horse-drawn storage facility, Pine Street Market underwent an extensive renovation in 2016 that featured a full seismic upgrade, updated MEP systems, new roof, new restroom and shower facilities, secured bike parking, and other improvements. The building’s timber-framed interior was carefully exposed to now feature high ceilings and authentic Douglas Fir beams, as well as a massive skylight that brings abundant natural light into the office space. Despite the heavy restoration, this historically designated building provides top-quality amenities while preserving its 19th Century character.