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New Top Floor Office Tenant Joins Kress Building
Cascade Energy, a consulting firm focused on improving energy efficiency, signed an 11-year lease for 10,000 square feet, at the Iconic downtown Portland Kress building, famed for the orange-accented Nike store. Located near Pioneer Courthouse Square at Southwest Fifth Avenue and Morrison Street, the company will take the entire top floor of the building, reported the Portland Business Journal.
Kidder Mathews’ Brandon O’Leary represented DDG in the deal, while Ali Davis and Nathan Sasaki of Apex Partners represented Cascade Energy.
Building owner Downtown Development Group had demolished the interior to showcase the building as a blank slate for prospective occupiers, after the previous tenant, Metropolitan Public Defenders, left in 2021.
Architect E.J. Hoffman designed the Kress building, which was constructed in 1928. The property is on the National Historic Register and houses Nike’s flagship Portland retail store on its first two floors. The move comes as Portland’s office vacancy exceeds 28%, according to the latest quarterly data from CBRE.
