FOR SALE OR LEASE
Charles F Berg
Building 615 SW BROADWAY PORTLAND, OR
Excellent Owner/User or Full Building Lease Opportunity
FOR MORE INFORMATION PLEASE CONTACT JIM LEWIS +1 503-279-1743 / jim.lewis@cushwake.com GARY GRIFF +1 503-279-1756 / gary.griff@cushwake.com ANNE HECHT +1 503-279-1728 / anne.hecht@cushwake.com CUTTER BALDOCK +1 503-279-1739 / cutter.baldock@cushwake.com
cushmanwakefield.com
Executive Summary
Executive Summary The Charles F. Berg Building represents an opportunity to acquire or lease a historically significant building in Portland’s established retail core. The property is located on Broadway Avenue, Portland’s most prominent boulevard, adjacent to Nordstrom and Pioneer Courthouse Square. The pedestrian counts in the surrounding blocks have historically been the highest in Portland. The property also has excellent access to the TriMet MAX transit lines connecting the central city with the Portland International Airport to the east and Intel and Nike to the west. The 19,424 SF building can be delivered completely vacant representing an excellent owner/use, value add investment, or full building lease opportunity.
PROPERTY SUMMARY: 611-615 SW Broadway Avenue Portland, OR 97205 ADDRESS Four, plus basement BUILDING STORIES 19,424 BUILDING SQUARE FEET 4,792 square feet LAND AREA CX(d) allows office, retail, and residential uses ZONING 1902 | Renovated 1980s YEAR BUILT 100% Vacant OCCUPANCY Sale Price - $4,750,000 Call for Lease Rates ASKING PRICE/RATES All floors including Basement ELEVATOR SERVICE
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
2
cushmanwakefield.com
Investment Highlights
Investment Highlights
PRIDE OF OWNERSHIP CBD INVESTMENT Few opportunities exist to purchase high quality assets of this size so ideally located within the urban core.
BROADWAY LOCATION Broadway is Portland’s most significant Boulevard, running north/south through the CBD and lined with notable retailers, concert halls, and numerous Class "A" office buildings including 1320 Broadway and Broadway Tower, both anchored by Amazon.
OWNER/USER POTENTIAL The entire 19,424 SF building can be delivered vacant presenting an ideal opportunity for an owner/user.
EXCELLENT TRANSIT CONNECTIVITY Transit stops for the MAX Red, Blue, Green and Yellow lines are steps away at Pioneer Courthouse Square, and the Portland Streetcar runs three blocks to the west, providing the property excellent connections to area transit systems.
RETAIL REPOSITIONING POTENTIAL The Charles F. Berg building has 8,490 square feet of retail space (including the basement and restaurant mezzanine) that is prime for repositioning to take advantage of its premier location and premium neighborhood rents.
HEART OF PORTLAND’S RETAIL CORE
HISTORICALLY SIGNIFICANT BUILDING Remodeled in 1929 to accommodate the noted women’s retailer Charles F. Berg, the building façade incorporated a Moderne or Art Deco style, the first of its kind in the Northwest. The building is listed on the National Register of Historic Places.
The blocks surrounding Pioneer Courthouse Square have the highest pedestrian counts in Portland and represent the city's primary retail and cultural core. LOCATED IN OPPORTUNITY ZONE The Charles F. Berg building is located within downtown Portland’s Qualified Opportunity Zone, allowing
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
3
cushmanwakefield.com
Location Overview
Charles F. Berg Building
Walk Score: 100
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
Transit Score: 98
4
Bike Score: 97
cushmanwakefield.com
Charles F. Berg Building
35-story mixed use project
SW 9th Ave
SW
Woodlark Hotel
Park Avenue West Tower
e
k Av
ar WP
S
SW 6th Ave
MAX Light Rail
MAX Light Rail
Pioneer Courthouse
SW 5th Ave
SW Oak St
SW Washington St
SW Broadway
SW Stark St
Union Bank of California Tower
SW Alder St
Pioneer Square
e Av
SW Park Ave
SW Morrison St
SW Yamhill St
SW Main St
Congress Center
Porto Terra
9th
O Bryant Square
SITE
MAX Light Rail
SW Taylor St
Location Overview
SW Salmon St
ATION
Location Overview
MAX Light Rail
SW 4th Ave
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
5
cushmanwakefield.com
Property Overview
Property Overview
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
Address
611-615 SW Broadway Avenue, Portland, OR 97205
County
Multnomah
Zoning
Central Employment (CX)
Assessor’s Parcel #
R246440
Historical Designation
National Historic Designation
Location
The Charles F. Berg Building is on Broadway Avenue, adjacent to Nordstrom and Pioneer Courthouse Square in the Central Business District of Portland, Oregon.
Land Area
4,792 square feet
Topography
Level
Utilities
All available to the site
General Description
Four-story, office/retail building with Art Deco facade and four-story interior atrium.
Year Built
1902 with renovations in 1929, 1975 and 1984
Architect
Grand Rapids Store Equipment Company Designing Service
Elevator
Entire building elevator served including basement.
Fire Sprinklers
Fully sprinklered
6
cushmanwakefield.com
Property Overview Description
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
7
cushmanwakefield.com
Property Floor Plans Description
BASEMENT
Available 4,383 SF
FIRST FLOOR MEZZANINE
FIRST FLOOR Available 1,600 SF
Available 2,507 SF
Available 4,383 SF
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
8
cushmanwakefield.com
Occupied 1,400 SF Exp. 6/22
Property Floor Plans Description
NOTE: Tenant can be vacated within 90 days.
Occupied 2,241 SF Exp. 6/22
SECOND FLOOR
THIRD FLOOR
FOURTH FLOOR
Available 2,334 SF
Available 3,530 SF
Available 1,429 SF
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
9
cushmanwakefield.com
Property Description
For more information, please contact: Team Leads: Jim Lewis Senior Director Licensed in Oregon
Gary Griff Senior Director Licensed in Oregon
Anne Hecht Director, Retail Leasing Licensed in Oregon
Cutter Baldock Senior Associate, Office Leasing Licensed in Oregon
+1 503 279 1743 jim.lewis@cushwake.com
+1 503 279 1756 gary.griff@cushwake.com
+1 503 279 1728 anne.hecht@cushwake.com 10
+1 503 279 1739 cutter.baldock@cushwake.com
Charles F. Berg Building / 615 SW Broadway Avenue, Portland Oregon
Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in cushmanwakefield.com question.