Vacation Rental Management Company Takes 61K SF In Pearl District
The company inked a lease with Security Properties for the space, but will retain its existing 36K SF lease on the top floor of the RiverTec building. The Heartline is directly next door to RiverTec, so the two buildings will create Vacasa’s corporate campus.
Vacasa’s new lobby will be off NW 13th Street on the sidewalk level of The Heartline development. The company will occupy all of the office space in the building, floors two through five, and will have access to the landscaped rooftop deck.
Vacasa is working with local architecture firm GBD Architects on the interior design of the space. The company plans to move into its new headquarters this summer.
Founded in 2009, Portland-based Vacasa manages more than 8,000 properties, and has outgrown its current HQ in the RiverTec building.
"Our team is growing rapidly and we need a new space to support that,” Vacasa CEO Eric Breon said.
Security Properties acquired the property from the Pacific Northwest College of the Arts in 2013. With feedback from locals and design by Mithun, Security incorporated a creative office component to target companies keen on growing in Portland.
JLL's Eric Turner represented Vacasa, while Apex Real Estate Partners represented Security Properties.