One Main Place (Portland, Oregon)

One Main Place

One Main Place from the south
Location within Portland, Oregon
General information
Type Office
Location 101 SW Main Street
Portland, Oregon, United States
Coordinates 45°30′56″N 122°40′31″W / 45.51556°N 122.67528°W / 45.51556; -122.67528Coordinates: 45°30′56″N 122°40′31″W / 45.51556°N 122.67528°W / 45.51556; -122.67528
Completed 1982
Height
Roof 270 feet (82 m)
Technical details
Floor count 20
Floor area 353,000 square feet (32,800 m2)
Design and construction
Architect Skidmore, Owings and Merrill
Main contractor Hoffman Construction

One Main Place is a privately owned commercial office building in Downtown Portland, in the U.S. state of Oregon. Located at the west end of the Hawthorne Bridge, the 20-story skyscraper is 270 feet (82 m) tall. Completed in 1982, it is the fifteenth tallest building in Portland, and the sixteenth largest by square-foot. Designed in the modern style by Skidmore, Owings and Merrill, it is a concrete and glass tower.

History

The structure was designed by architectural firm Skidmore, Owings and Merrill and built by Hoffman Construction Company, with completion coming in 1982.[1] One Main Place was acquired by the Equitable Life Assurance Society from Marathon Realty U.S. for $35 million in 1995.[2][3] The pension fund for Los Angeles' police and fire departments bought the office tower in December 1998 for $44.5 million, after having owned 10 percent of the building since the 1995 sale.[1][2] RREEF Realty Investments (part of Deutsche Bank) purchased the building in 2006 for $69.3 million, and then sold it in January 2010 to KBS REIT II for a reported $57 million.[4] RREEF had attempted to sell the office tower in 2009, but halted efforts in October after bids were lower than anticipated.[1][5] The deal on the building was anticipated to close in April, but was completed early in February.[4][6] KBS sold the building in 2014[7] to New York Life for $86.3 million.[8]

Details

One Main Place is 20 stories tall and has 353,000 square feet (32,800 m2) of space.[4][9] The building has 292,971 square feet (27,217.9 m2) of leasable space, making it the 16th largest by size in Portland.[10] Designed in the modern style, the 270-foot (82 m) tall structure is used for class A commercial office space.[3][6] The concrete building utilizes a curtain wall. The World Trade Center is directly north and east, while First & Main lies adjacent to the south.

Tenants include law firms, Banner Bank, Yellowpages.com, and Tripwire, a software developer, among others.[4][11] Tripwire and the Northwest Regional Educational Laboratory are the largest tenants, with the former occupying 32,000 square feet (3,000 m2) of space and the educational lab taking up almost 50,000 square feet (4,600 m2).[10][11] The building is decorated each year during the winter holidays, utilizing a different theme each year and using a fireplace located in the lobby as part of the theme.[12] These decorations won a local award in 2002 for its Home for the Holidays theme.[13]

References

  1. 1 2 3 Culverwell, Wendy (January 22, 2010). "One Main Place to sell for $57 million". Portland Business Journal. Retrieved 23 January 2010.
  2. 1 2 Miller, Brian K. (January 15, 1999). "1 Main Place in fire--and police--sale for $44.5M". Portland Business Journal. Retrieved 23 January 2010.
  3. 1 2 "One Main Place". Portland. Emporis Corporation. Retrieved 23 January 2010.
  4. 1 2 3 4 Hunsberger, Brent (January 22, 2010). "Another deal for a Portland office tower". The Oregonian. Retrieved 23 January 2010.
  5. ↑ Culverwell, Wendy (October 30, 2009). "Slow sales slam office market". Portland Business Journal. Retrieved 28 January 2010.
  6. 1 2 "One Main Place sold to KBS REIT II". Portland Business Journal. February 9, 2010. Retrieved 11 February 2010.
  7. ↑ Bell, Jon (December 18, 2014). "Downtown office building sells again less than 5 years after most recent sale". Portland Business Journal. Retrieved 19 December 2014.
  8. ↑ Bell, Jon (December 29, 2014). "Downtown office building went for $86.3M". Portland Business Journal. Retrieved 30 December 2014.
  9. ↑ "101 SW Main St - Downtown - Portland". PortlandMaps. City of Portland. Retrieved 11 February 2010.
  10. 1 2 "Education group renews lease at One Main Place". Portland Business Journal. July 16, 2009. Retrieved 28 January 2010.
  11. 1 2 Graf, Tyler (September 8, 2009). "One Main Place tower is for sale". Daily Journal of Commerce. Retrieved 28 January 2010.
  12. ↑ Curl, Aimee (December 24, 2003). "Decking the halls and walls for some good-natured competition". Daily Journal of Commerce. Retrieved 28 January 2010.
  13. ↑ Fehrenbacher, Gretchen (January 30, 2002). "BOMA pins awards on standouts". Daily Journal of Commerce. Retrieved 28 January 2010.
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