One Main Place

101 SW Main St, Portland, OR, United States, Portland, OR 97204

Property Overview

On February 5, 2010, KBS REIT II acquired One Main Place, a Class A office tower prominently located in Portland’s Central Business District, with a diversified tenant roster representing a wide range of industries including technology, education, legal, and financial services. Other than the largest tenant whose lease expires in 2021, KBS REIT II recently renewed the major tenants for long term leases.

Through active management, KBS REIT II initiated the process to redesign the Property’s lobby, plaza, and amenity center. This created the vision to potentially further elevate the Property’s status to be on par with the Pearl District’s highest quality and technology-centric projects. A lobby renovation in conjunction with One Main Place’s continued leasing success, appeal to creative and technology oriented users, and abundance of on-site amenity options might allow an owner to bolster asking rents, adding value.

Investment at a Glance

Location: Portland, OR

Property Type: Class A Office

Acquisition Date: February 5, 2010

Purchase Price: $54,400,000

Sale Date: December 24, 2014

Sale Price: $87,250,000

No. of Buildings: 1

Square Footage: 315,113 SF

Leased Percentage (at the time of Acquisition): 99%

$54,400,000 Total Purchase Price
315,113 square feet Total Rentable Area
Class A Building Class