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PORTLAND-Kaiser Foundation Health of the Northwest has renewed its leases for 38,352-sf of office space in Montgomery Park for three years each to keep its four medical groups at the building, which is considered to be the second largest office building in the Portland metropolitan area.

Although the value of the four leases was not released, the asking rate for space at Montgomery Park, located at 2701 NW Vaughn Street, is $20-psf gross. Built originally in 1921, the building was an abandoned Montgomery Ward warehouse when it was sold to the Naito family in 1984. The 9-story building is 700,855-sf and features a 9-story atrium and 77,872-sf floorplates.

The space leased by Kaiser includes 15,470-sf for the Continuing Care/Home Health Group; 11,670-sf for the Occupational Health Group; 9,744-sf for the Center for Health Research; and 1,468-sf for the Materials Management Group.

Donn M. Sullivan, senior vice president with Grubb & Ellis’ Portland office represented Kaiser in the transactions. Scott Weigel with H. Naito Properties represented the landlord, Montgomery Park Co. LLC.

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