The two companies paid $1.425 million for the 18,000-sf,two-story building located at 733 SW Oak St., according to OregonTitle. They did so under the alias Guthrie Balfour LCC, indeference to the Balfour-Guthrie Company, which developed thebuilding in 1913 and occupied it until 1957. The seller was listedas S&G Properties.

Now called the Oak Park Building, it is on the City ofPortland's List of Historic Resources and is currently in theapplication process to be designated on the National Register ofHistoric Places. The building is being restored to its originalcondition, including the unique sandstone exterior. The cost of therenovation was not disclosed.

The building is consists of three floors, two above ground andone below. Up to 10,000 sf of space is being marketed for lease,says Norris Beggs & Simpson broker Doug Jones, who handled bothsides of the acquisition and will be marketing the space. "Smallbuildings in downtown Portland are extremely hard to find,especially buildings with historic landmark status like the OakPark Building," says Jones.

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