Like in Seattle, tenants are craving creative office space in Portland, and landlords are looking to provide it. Last fall, Seattle-based Urban Renaissance Group and Clarion Partners acquired The Oregonian Building, 1320 Broadway, in Portland for $14.2M, and Tom Kilbane, head of URG’s Portland office, tells us the companies are now undertaking a renovation of the 1940s-vintage structure into 170k SF of creative office by early 2016. He says the renovations will allow Allied Works Architects to restore the feel of the original modernist design, while updating the building’s look.
URG and Clarion will spend another $14M on the renovation. The 1320 Broadway building will feature floor-to-ceiling heights of 14 feet, 40k SF open floor plates, and extensive window lines. The lobby, now enclosed by a drop ceiling, will be restored to its original 28-foot height, allowing natural light into the renovated space from 20-foot-tall clerestory windows along the building’s Broadway frontage. Three outdoor rooftop terraces are also part of the plan. JLL is handling the leasing of the building's office space; Urban Works the retail space.
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