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NKF, JLL Handle Nearly $132M Power + Light Sale in PDX

An affiliate of Portland-based Gerding Edlen acquired Power + Light, a Class A office building in Portland’s CBD from an affiliate of Beacon Capital Partners for $131.5 million. The 272,079-square-foot asset is located at 920 SW Sixth Ave. and underwent a $9.4-million repositioning in 2018 to appeal to tenants seeking creative office space in a walkable location.

The renovation included an overhaul of the building lobby and the addition of a high-end fitness center equipped with shower and locker facilities, bike storage and an indoor/outdoor rooftop tenant lounge. The 15-story building is currently occupied by a diverse mix of office and retail tenants.

NKF’s Nick Kucha and James Childress, along with JLL’s Buzz Ellis and Rob Hielscher represented the seller. The buyer was self-represented.

Kucha says, “Beacon’s creative conversion of this historic icon in the Portland skyline has transformed Power + Light into a market-leader that competes even with newly constructed office assets throughout the city.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition