Cushman & Wakefield's Scott Madsen, leasing agent for the building along with Ramona Harrington, tells GlobeSt that OHSU is adding to its approximately 20,000 sf by taking all available space in the building. That includes about 3,000 sf adjacent OHSU's existing space on the second floor of the building's east wing, and all 24,000 sf on the ground floor of the east wing vacated by Bank of America.

ADP is the anchor tenant in ADP Plaza, taking 115,000 sf. OHSU is now the second largest tenant in the building, with 46,721-sf, and Bank of America still maintains a 16,000-sf presence in the building. Full service lease rates for ADP Plaza are said to be around $20/sf.

Local real estate sources say ADP Plaza is in the midst of changing hands for around $25 million, though the buyer is not yet being revealed. The building's owner is an offshore family operating under the name Antares ADP Inc., which paid Pacific Rim Investors about $20 million for the property in 1997.

Pacific Rim, which consisted of developer Bob Gerding and unnamed partners, acquired the building in 1990 -- after it had undergone foreclosure -- for a reported $12.7 million in debt, though Oregon Title Insurance Co. records list the sale price as $9.75 million.

Pacific Rim then invested more money and took out additional loans to renovate the building and add a four-story parking garage across the street. The partners reportedly put $2 million of equity into the ADP site.