PORTLAND, OR—KBS Real Estate Investment Trust II, has sold One Main Place, a 20-story, 315,133 square-foot, class A office building located along the waterfront of Portland's Central Business District.
The building, at 101 SW Main Street sold for $86.3 million. KBS says it paid $54 million when it acquired the property in 2010. The new buyer was not disclosed.
“Built in 1980 with significant capital improvements in 2008, we believe One Main Place property appeals to a wide range of tenants in industries ranging from technology and finance to legal services and education,” said KBS regional president Rodney Richerson.
Stephen Van Dusen, Jason Flynn and Darwin Rodriguez of Eastdil represented KBS on the sale.
One Main offers views of its prime location in downtown Portland, and it occupies an entire city block. The property is Energy Star certified; offering tenants modern building systems and first-class amenities including a fitness center, showers, conference center, subterranean parking, full-service bank, coffee shop and a café. The building was designed by renowned architecture firm Skidmore, Owings & Merrill.
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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.
