NBP Capital Acquires Historic Courthouse in Downtown Portland for $28M
PORTLAND, ORE. — Portland-based NBP Capital has purchased the historic Central Courthouse, located at 1021 SW Fourth Ave. in downtown Portland. Multnomah County sold the property for $28 million.
Built between 1909 and 19014, the eight-story, neo-classical building offers a gross building area of 323,486 square feet, with a rentable building area to be determined after conversion. The courthouse has large floor plates more than 30,000 square feet and flexible CXd Zoning allowing for a variety of commercial uses.
The building is currently home to Multnomah County’s court operations, and the County will continue to lease the property until completion of its new Central Courthouse at SW First Avenue and SW Madison Street. The new property is slated for completion in 2020.
Charles Safley and Graham Taylor of CBRE’s Portland office represented the seller in the transaction.