{"id":1004199438,"date":"2017-12-11T15:47:25","date_gmt":"2017-12-11T23:47:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004199438"},"modified":"2022-12-09T01:24:16","modified_gmt":"2022-12-09T09:24:16","slug":"vista-investment-goes-shopping-in-portland-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vista-investment-goes-shopping-in-portland-market\/","title":{"rendered":"Vista Investment Goes Shopping in Portland Market"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004199441\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004199441\" data-attachment-id=\"1004199441\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/vista-investment-goes-shopping-in-portland-market\/us-customs-house\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg\" data-orig-size=\"800,628\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"US Customs House\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg?w=800\" class=\"wp-image-1004199441 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg\" alt=\"U.S. Customs House, Portland, Ore.\" width=\"300\" height=\"236\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg?resize=300,236 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/US-Customs-House.jpg?resize=768,603 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004199441\" class=\"wp-caption-text\">U.S. Customs House, Portland, Ore.<\/p><\/div>\n<p>Vista Investment Group has purchased the U.S. Customs House, a 67,000-square-foot building located in Portland, Ore. Eastern Real Estate sold the asset for $30 million. This transaction marks Vista\u2019s latest acquisition of historic buildings located in urban neighborhoods. JLL\u2019s Executive Vice President Paige Morgan, along with Managing Director Buzz Ellis and Senior Vice President Peter Furest, led the JLL team on the sale.<\/p>\n<p><em>\u201cWith its distinctive architecture, large floor plates and high-volume interiors, The U.S. Customs House is an irreplaceable building in the Pearl District of Portland and we consider it one of the jewels in our portfolio,\u201d<\/em> Vista President Jonathan Barach, said in a statement. <em>\u201cResidential and office users alike appreciate the authentic experience that these historic buildings offer and we continue to look for opportunities throughout the West Coast for these types of assets.\u201d<\/em><\/p>\n<h2>H-shaped building<\/h2>\n<p>The U.S. Customs House is located at 220 NW Eighth Ave., at the corner of NW Broadway and NW Everett Street in the Pearl District submarke, which is home to various restaurants, shopping and entertainment venues.<\/p>\n<p>Built in 1901, as a Portland Historic Landmark, the property was constructed to accommodate the city\u2019s prosperity and status. The four-story building is symmetrical, H-shaped in plan, featuring pavilions extending to the north and south from the central mass. The U.S. Customs Service has been occupying the building for 67 years. At the moment, the U.S. Customs House is 100 percent leased to WeWork, which recently received a $4.4 billion investment from Softbank Group.<\/p>\n<p>Sklar Kirsh\u2019s Partner and Head of the real estate practice Andrew Kirsh served as the legal counsel to Vista Investment Group in the transaction. Vista\u2019s latest transaction included the acquisition of the Nimbus Oaks <a href=\"https:\/\/www.commercialsearch.com\/news\/vista-investment-enters-portland-market\/\">flex\/business park<\/a> in the Portland submarket of Beaverton, Ore.<\/p>\n<p><em>Image courtesy of Vista Investment Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 67,000-square-foot historic building was built in 1901 as an historic landmark. The property is currently 100 percent leased to WeWork. <\/p>\n","protected":false},"author":436,"featured_media":1004199441,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21752,21742,28440,15],"tags":[38513,34453,33678],"class_list":["post-1004199438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-mixed-use","category-latest","category-portland","category-west","tag-u-s-customs-house","tag-vista-investment-group","tag-wework"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Vista Investment Goes Shopping in Portland Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vista-investment-goes-shopping-in-portland-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vista Investment Goes Shopping in Portland Market\" \/>\n<meta property=\"og:description\" content=\"The 67,000-square-foot historic building was built in 1901 as an historic landmark. 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