PORTLAND-Three months after completing their makeover of a 4,500-sf industrial building at 711 SE Ankeney St., Jon Kellogg and Thad Fisco have sewn up a taker for the single-story tilt-up.

AND 1, a seven-year-old basketball footwear and apparel company, signed a five-year lease last week for the space, which has 13-foot-high ceilings and exposed brick and beams. The annual full service lease rate for the space is 16.35 per sf. It will be the company’s first office in Portland. They were represented in the lease by Brandon Frank of Grubb & Ellis.

Kellogg and Fisco acquired the circa 1960s building last November for about $275,000, according to public records. Kellogg declined to reveal the cost of renovation, but says it included a new storefront, all new glazing, new metal awnings, new mechanicals and a new roof. “What was attractive was it had very sound bones and nice, clean, simple lines,” says Kellog. “And 1 is the perfect fit; it’s the type of use we targeted.”

In addition to finding a taker for the space so quickly, Kellogg says the building lies within the city’s East Burnside Storefront Improvement District, and therefore was eligible for city assistance. The Portland Development Commission helped facilitate design by providing architecture services and well as dollars toward exterior modifications, including storefronts, awnings, lighting, and landscaping, says Kellog.

“The city sees it as a transitional area they’d like to improve because Burnside is a gateway to Downtown from the east that carries 25,000 cars per day,” says Kellogg. “It’s actually a great thing.”

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.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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.