Newmark arranged the sale of Leland James, a newly redeveloped 118,104-square-foot multi-tenant office building in Portland’s Slabtown District. The asset was fully occupied at the time of sale.

Newmark Vice Chairman Nick Kucha, Senior Managing Director James Childress and Associate Director Jakob Nicholls represented the seller in the transaction. The buyer was Spear Street Capital. Newmark Executive Vice President and Managing Director Dave Squire and Director Josh Williams served as leasing advisors on behalf of the former ownership.

Located at 2175 NW Raleigh Street, the property was formerly a corporate office building that was redeveloped in 2018. “This sale marks the resurgence of office liquidity in Portland after a three-year hiatus, and as it redefines ‘new market values’, we are pleased to have accomplished a successful sale,” said Kucha. “Leland James is arguably a top three office asset in the city, and the pricing, relative to other marketing processes in Portland, is a testament to that quality,” Childress added.