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Major renovation to begin at riverfront office building, with 175,000 SF of Class A space being marketed for lease
Portland, Jan 23, 2013 — Jones Lang LaSalle today announced it has been named exclusive broker for Block 300, which contains the largest contiguous block of office space to become available in Portland’s Central Business District in more than a year.
Formerly known as Robert Duncan Plaza and located at 308 SW Second Avenue, Block 300 is an approximately 360,000 square foot office building owned by a joint venture of institutional investors, with Chicago-based Kaufman Jacobs overseeing asset management for the group.
The building has been fully leased to GSA since construction, but late last year the government exercised its right to vacate approximately 175,000 square feet. The vacated space will become available for lease in October 2013. A majority of the building’s total available space is in a single contiguous block in excess of 100,000 square feet. With floor plates in excess of 30,000 square feet, the facility offers space-planning efficiencies not currently available in the Portland CBD. Ownership is seeking tenants who can take advantage of these large blocks of contiguous space.
The owners are planning a major capital improvement for later this year. The project will include lobby, atrium, elevator cab and other common area renovations using Class A materials and finishes throughout. Additionally, state of the art amenities such as a contemporary 50-seat conference facility and new fitness center will be offered for tenant use. Although already Energy Star certified, the capital program will include further environmental and energy efficiency upgrades. The owners also intend to pursue LEED EB certification for the property.
Located at the west end of the Morrison Bridge, Block 300 is ideally situated for commuters and downtown residents. It has convenient interstate access and a Tri Met light rail stop at its front door. In keeping with Portland’s bicycle-friendly reputation, the building also offers ample secure bicycle parking for tenants.
Buzz Ellis, Managing Director of JLL, along with Jake Lancaster and Mark Friel, hold the leasing assignment. The project team is rounded out by Portland-based ZGF Architects (the original building designer) and SRM Architecture and Marketing.
Further information about Block 300 can be found at www.block300.com.
JLL employs approximately 118 people in Portland, including many of the region's most recognized real estate brokerage experts covering office and industrial leasing, capital markets and investment sales as well as a wide range of real estate advisory services. The firm was named a CoStar Power Broker Award winner as one of the Top Leasing Firms in the Portland market in 2011.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center webpage. Bookmark it here: http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx.
About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
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