By Alex Girda, Associate Editor
A Portland, Ore., office property was recently traded in a deal brokered by Holiday Fenoglio Fowler. ATC Partners LLC, a full-service real estate firm from San Francisco, worked with HFF to sell the property to Swift Real Estate Partners for $8.55 million.
Located at 811 SW Naito Parkway, on the edge of the city’s central business district, the asset offers a total of 49,946 square feet of office space that also includes an underground parking garage that can accommodate as many as 28 vehicles, as well as an adjacent parking lot with 17 stalls. Nearby transportation options include the MAX light rail line, as well as I-5 and I-84. The six-story, 1982-built office building went through a major renovation last year. The building features unobstructed views of nearby Mount Hood, the Willamette River and Tom McCall Waterfront Park.
Seller ATC Partners is a value-add real estate company that has been on the scene since 1992. Over the past seven years, it has added 811 assets to its portfolio. Although it is currently involved in a sale, the company has been through something of a shopping spree, having invested around $75 million over the last year and a half. The new owner of the assets, Swift Real Estate Partners, is an independent and vertically integrated real estate investment firm that focuses on buying and turning around office and industrial properties on the West Coast.
The HFF team in charge of the transaction consisted of director Nicholas Kucha and senior managing director Michael Leggett.
Image courtesy of atcpartners.com