
River East Center
1515 SE Water Ave, Portland, OR 97214
99,999 sf
Jones Lang LaSalle Americas, Inc. ("JLL"), as the exclusive advisor, proudly presents the opportunity to acquire the 100% fee simple interest in TractorWorks (the "Property" or "Opportunity"), a revitalized, 9-story, creative office building totaling 372,205 RSF in the highly sought-out North Loop district. TractorWorks benefits from superior connectivity and accessibility given its prime North Loop location that puts it just off of I-94 and 6 blocks away from Target Field Rail Station.
At 59% leased with 4.3 years of remaining average lease term (“WALT”), the Property provides an investor with the opportunity to acquire a premier office asset at a substantial discount to replacement cost and substantially increase NOI through the lease up of 160,000 RSF. With 640 parking stalls in an area known for a lack of parking, there is an opportunity to significantly increase parking revenue. With over $21 million of capital invested since 2014, ownership has meticulously maintained and transformed the Property. Paired with its dynamic North Loop location, TractorWorks offers investors the exceptionally rare opportunity to create value through lease up. All inquiries regarding this value-add creative office asset should be directed to JLL.