PORTLAND, OR—HFF has closed the $21.1 million sale of the Executive Building, an 11-story, class A office building totaling 104,630 square feet in downtown Portland.
HFF marketed the property on behalf of the seller, The Matteson Companies. The buyer, Swift Realty Partners, purchased the asset for $21.1 million contingent to existing debt.
The Executive Building is situated on .23 acres at 811 SW 6th Avenue at the intersection of Portland's main MAX light rail lines and near Interstates 5 and 84 and Highway 26. The property is also near amenities such as the Pioneer Place Shopping Center, The Nines Hotel and several other dining, retail and entertainment venues. The property is 91.4% leased to three tenants, including J.P. Morgan Chase and the State of Oregon Department of Environmental Quality (DEQ).
The HFF team was led by director Nick Kucha and senior managing director and co-head of HFF's national office investment sales platform Michael Leggett.
The Matteson Companies are a group of affiliated entities engaged in real estate investment and management, headquartered on the San Francisco Peninsula with operations in diverse western U.S. markets. The Matteson Companies manage an extensive portfolio of properties throughout the West that includes multifamily, office, retail and mixed-use property types. Swift Real Estate Partners is an independent and vertically integrated real estate investment firm headquartered in San Francisco.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
