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New high watermark for Portland office sales

​•A new high-water mark was set in Portland when 1320 Broadway sold to Credit Suisse for $541 p.s.f. The sale is further evidence of the appeal of Portland’s core office market to institutional investors with now almost 60 percent of the downtown office market owned by institutions.

•Several significant CBD assets came to market in the second quarter, the most notable being Wells Fargo’s announcement that it plans to sell one of Portland’s tallest buildings, the 38-story Wells Fargo Center.

•Year-to-date office sales of buildings that sold for more than $10 million now total $435 million and given what’s on the market, Portland is on pace to see more than $1 billion in sales volume yet again in 2017.​

Source: JLL Research

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