Starwood Snags Oregon’s Tallest Tower
Greenwich, CT-based Starwood Capital Group acquired through affiliated funds, Wells Fargo Center, a 40-story skyline office tower and an adjacent five-story former data processing building space in downtown Portland, OR. The sale-leaseback deal with Wells Fargo entails more than 725,000 square feet of Class A and creative office.
Wells Fargo Center is the tallest building in the state, and offers unrivaled panoramic views of Mt. Hood, the Willamette River and Mount St. Helens. Starwood plans to reposition the property through a major capital improvement campaign that will touch the lobbies and entries, as well as create new tenant amenities such as conference facilities, a tenant lounge, reimagined retail areas, fitness center and bike hub.
CBRE’s Trevor Kafoury and Michelle Franceschi will lease the tower, and Kidder Mathews’ Josh Schweitz, Brandon O’Leary and Travis Parrott will lease the adaptive reuse structure. Lincoln Property Company will serve as the property management firm, and oversee the capital improvements.
For comments, questions or concerns, please contact Dennis Kaiser