One Main Place
101 SW Main St, Portland, OR, United States, Portland, OR 97204
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%