NEWMARK, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in PACWEST (the “property”), an iconic Class A, high rise office tower in the heart of the Portland Central Business District. The property is ideally situated in downtown Portland’s most diverse leasing liquidity zone catering to both traditional and creative tenant pools. PACWEST is located in the epicenter of Portland’s Legal District offering proximity to both local and federal courthouses. In addition, the property is immediately adjacent to the largest concentration of Fortune 500 technology tenants in downtown occupying over 340,000 square feet including Google, Amazon, and eBay.

At 418 feet tall, the property is the fourth tallest office tower in Portland offering panoramic views of the Cascade Range, West Hills, Willamette River, and NW District that few other buildings can provide. PACWEST was developed by Tokyo-based Mitsubishi Estate Co. in 1984 and has been institutionally owned and operated ever since.

Current ownership has invested over $44 million in capital including the creation of the best tenant amenity package for office users in downtown Portland consisting of a full lobby renovation, bike hub, fitness facility, tenant lounge, modular conferencing facility, and outdoor terrace.

PACWEST is well positioned to capitalize on the nearly 4 million square feet of pre-COVID leases expiring over the next four years offering new ownership the ability to provide prospective tenants attractive leasing packages at competitive rental rates with a significantly reset basis.