San Francisco Investor Sells Oregon Office for $15M

Swift Real Estate Partners sold 1500 Plaza, a five-story, 72,600-square-foot office building in Portland, OR to Canadian firm Second City Real Estate. The San Francisco seller walked away from the deal with $14.9 million. JLL’s Paige Morgan and Buzz Ellis brokered the transaction.

The building at 1500 N.E. Irving St. is situated on 1.8 acres. It came on line in 1964, and is 95% leased to tenants including Hasson Co. and staffing firm Reliant Search. Approximately one-quarter of the building has been converted into creative office space.

Swift Real Estate Partners picked up the building in 2014 for $10.8 million. In 2016, Swift acquired a three-building portfolio in Portland for $10.9 million, and sold 811 @ The Waterfront for $12.6 million.

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