PORTLAND-Unitus Community Credit Union has sold a fully leased 53,600-sf Downtown office building here to BPM Associates for $6.9 million. BPM is a locally based company owned by the Ralph Schlesinger family.

Built in 1976, the building’s street address is 2121 SW 4th Ave. The top five floors of the six-story building are master leased to Portland State University. The 8,430-sf ground floor is leased by the credit union for a retail banking operation.

Until April, the building was the headquarters for Unitus, formerly known as Oregon Telco Credit Union. The company’s new Downtown headquarters is 1300 SW Sixth Ave. The location also houses a new retail branch for the company.

PSU leased 45,000 sf that will house several administrative offices and classrooms for the school as well as the PSU Foundation. Cushman & Wakefield brokers Gary Griff, Tom Usher, Mark Carnese and Jim Lewis represented both parties in the sale. PSU represented itself in the lease.

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?


NOT FOR REPRINT

© 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

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.