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JLL Closes Sale of 115K-SF Portland Mixed-Use Property
JLL has completed the sale of Machine Works, a 115,138-square-foot, mixed-use asset in Portland, Oregon.
JLL represented the seller, AEW Capital Management, L.P., and procured the buyer, a partnership between Melvin Mark Investors and Orion Investment Partners. The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Buzz Ellis, Senior Managing Director Mark Katz, Senior Director Zach Kersten and Associate David Williams.
Machine Works is located at 1414 NW Northrup St. in the highly sought-after Pearl District. The property is within walking distance of the MAX light rail and has excellent accessibility and visibility, being immediately adjacent to Interstate 405.
At nine stories tall, Machine Works offers a mix of modern office and retail space and three levels of parking. The LEED Gold-certified property was completed in 2009 and is fully leased to a variety of tenants in the engineering, medical, government services and fitness industries, with LA Fitness occupying space on the ground floor.
