PORTLAND, OR—Craig Reinhart, Chris Elsenbach, and Matt Newstrom of Cresa Portland recently represented Webtrends, a global leader in digital marketing intelligence—in a 64,676 SF office lease. Webtrends, currently located at 851 SW 6th Avenue, is relocating its Portland corporate headquarters to U.S. Bancorp Tower, 111SW 5th Avenue in downtown Portland. U.S. Bancorp Tower is owned by a partnership of Unico Properties LLC and LaSalle Investment Management. Unico also manages the building.
The digital marketing intelligence company will move from the Pacific First Center to the 42-story, Class-A office building. Adjacent to the Pearl District, the 1.1 million square foot U.S. Bancorp Tower is Portland's largest office building and continues to serve as the regional headquarters for Minneapolis-based U.S. Bancorp.
Webtrends will occupy the entire third floor and will have a data center on a portion of another floor in the building.
Newstrom of Cresa Portland will oversee project management activities at the site, slated for completion in February 2014.
Unico was represented by Joe Vaughan of Jones Lang LaSalle (JLL).
“Without the collaboration and collegiality of Brian Pearce (Unico's Senior Vice President, Property Management), Ty Barker (Unico's General Manager of U.S. Bancorp Tower), and Joe Vaughan of JLL, we wouldn't have overcome the challenges and complexities of this assignment and realized such as successful outcome,” said Reinhart.
”We're thrilled to welcome a global technology company, Webtrends, to the Tower,” said Pearce. “In the past year, we have secured 120,000 square feet of new leasing to leading tech firms, firmly positioning U.S. Bancorp Tower as the tech hub in Portland.”
According to Reinhart, the company was looking to consolidate its operations from a multi-floor layout into a one-level “super floor.” The build out is designed to feature “cool, creative space” with open areas for collaboration and exposed ceilings, as well as an upgraded data center.
Reinhart said that Webtrends originally considered renewing its release rather than relocating; however, he is “delighted that Cresa was able to deliver a solution for Webtrends that exceeded their expectations.”
According to Webtrends' CEO Alex Yoder, “I am extremely excited to announce that, as our lease at a space that fragments our employees across 4.5 floors comes to a close, we have found a rare gem that is the optimal alternative—a single footprint on one floor within the core downtown area.”
Cresa Portland is the metro area's largest corporate real estate advisory firm exclusively representing tenants.
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