Unico Properties LLC has attracted and secured the renewal of a long-term 63,000-square-foot lease for law firm Lane Powell PC at Moda Tower in downtown Portland. Additionally, Unico and American Realty Advisors (ARA) recently completed a $5 million lobby remodel and renovations at the office property located at 601 S.W. 2nd Ave.

“There’s no denying that COVID-19 has created a challenging environment, but it’s exciting to see a major law firm double down on its commitment to downtown Portland, and this move signals the resilience of downtown Portland and a bright future coming out of the pandemic,” says Charlie Floberg, Unico Properties director, market leader.

ARA and Unico acquired the 398,412-square-foot class-A office tower in 2018. Formerly known as ODS Tower, the building’s lead tenant is health insurance company Moda Health and Lane Powell is its second largest tenant.

“Extending our lease at Moda Tower gives Lane Powell the opportunity to rethink how our office functions. Our operations during the pandemic demonstrated to us that we can be productive while working remotely, but we still value the benefits of in-person communication. Accordingly, our priority in the coming months will be to transform our space to embrace a hybrid work environment,” said Jeremy Bader, Lane Powell PC shareholder.