5550 Macadam, a 43,151-square-foot suburban office building in Portland, recently sold to a private buyer. Renovated in 2019, the three-story building has updated common areas, locker rooms and restrooms. The property offers 14,000-square-foot floorplates and is 89 percent leased with current tenants averaging 9.8 years of occupancy.

5550 Macadam is positioned within the Southwest Close-In submarket of Portland and more specifically, the Johns Landing micro-market which offers access to the central business district and freeway system. This area has a variety of restaurants, hotels and retailers, and is one mile south from Oregon Health and Science University’s South Waterfront campus expansion.

JLL represented the sellers, ScanlanKemperBard and WHI Real Estate Partners, and procured a local private buyer advised by City and State Real Estate. The JLL team representing the seller was led by Buzz Ellis, Logan Greer and Adam Taylor.

“This offering generated a significant amount of investor interest as the office market starts to return to pre-COVID levels,” Ellis said. “5550 Macadam has an outstanding urban location with high accessibility and suburban conveniences that was attractive to many buyers.”