On behalf of its clients, Partners Group and Unico Properties LLC are committing $20 million to fully renovate the historic Galleria, a 194,737-square-foot class-A office building. SERA Architects Inc. recently signed a 42,000-square-foot 15-year lease there and will serve as the lead architect on the redesign.
Built in 1910 and originally known as the Olds, Wortman & King department store, the property is listed on the National Register of Historic Places. Galleria has four stories of office over one story of street-level retail. It spans a full city block directly on the MAX transit line at SW 9th and Morrison in the central business district.
The Bill Naito Company repositioned the building in 1976 as Portland's first shopping mall. Partners Group and Unico purchased Galleria from the Bill Naito Company in 2018 as part of a joint venture partnership.
Galleria is currently 46 percent leased to Target, and its ground-floor City Target will reopen this month.
The brokers who represented Unico are Dave Squire, Travis Parrot and Josh Schweitz of Newmark. The brokers who represented SERA are Andrew Rosengarten and Jake Lancaster of JLL.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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