Portland Software Firm Doubles Up Space

PORTLAND, OR—IT automation software provider Puppet Labs is moving to Block 300 here, taking a two-floor space that will serve as its headquarters. The property, owned by a joint venture including Kaufman Jacobs, Starwood Capital Group and JPMorgan Chase, is in the latter stages of a multimillion-dollar capital improvement program.

Puppet Labs' 75,000-square-foot berth, occupying the entire fifth and sixth floors of the 360,000-square-foot office property at 308 SW Second Ave., is double the size of the space it currently occupies at the RiverTec Building elsewhere in downtown Portland. The large floor plates of what was formerly known as Robert Duncan Plaza are among the largest in the city's CBD, and Cresa Portland's Craig Reinhart says the open floor plans are conducive to the collaborative working style at Puppet Labs. “The space will allow everyone who works at Puppet Labs to have a direct impact on the company and the success of its customers,” adds Reinhart, managing principal with Cresa Portland.

Sam Fuchs, COO of Kaufman Jacobs, the managing partner of the building's ownership group, calls Puppet Labs “a fantastic homegrown Portland success story,” one that is “sure to bring a vibrant new energy to not only our property, but to the surrounding community as well. Their commitment to Block 300 also serves as a tremendous vote of confidence for the exciting renovations currently under way at the building.” The property was built in 1991 to house federal agencies, but the current ownership has undertaken a campaign to reposition it to private-sector tenants.

Reinhart and his Cresa Portland colleague, Matt Newstrom, principal, project Management, represented Puppet Labs in lease negotiations. A JLL team of SVPs Jake Lancaster and Mark Friel and managing director Buzz Ellis represented the property's ownership. Puppet Labs expects to move in this coming November.