PORTLAND, OR-Renovation is under way on the Kalberer Building in downtown Portland’s Old Town district. In cooperation with the city, the Kalberer Company is spending several million dollars to have Venerable Properties turn the raw warehouse into an office building to be known as the Creative Services Center.

Plans are for the Portland Development Commission to take out a 10-year master lease on the property, throw in an additional $1.2 million for seismic stabilizing, and then sublease the space to creative services companies such as software developers, electronic commerce businesses, advertising and public relations agencies and film and video companies. The project is part of the city’s effort to support the industry and keep companies from fleeing to the suburbs.

For annual lease rates low-to-mid $20 per sf range, the seven-story, 80,000-sf center will provide 32,000-sf of finished loft space for creative services companies. It will also be home base for the Oregon Creative Services Alliance, and provide individual offices and common meeting rooms for industry associations, including “fully wired” communal conference rooms.

In addition to Venerable Properties, SERA Architects, Howard S. Wright Construction, Sparling Technical Consulting, MacDonald Miller and KPFF Consulting are also involved in the renovation, which began this week. Completion is expected in July 2001.

Kalberer and Venerable are also considering a similar, 70,000-sf project on one-quarter block immediately to the south of the Kalberer Building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.