PORTLAND, ORE. — Newmark has brokered the sale of Leland James, a multi-tenant office building in Portland’s Slabtown District. Spear Street Capital acquired the fully occupied asset. Terms of the transaction were not released.
Located at 2175 NW Raleigh St., the four-story Leland James building features 118,104 square feet of office space. Formerly a corporate office building, the property was redeveloped in 2018. The redevelopment included seismic upgrades, a new brick façade and the addition of a heavy timber penthouse level with an eco-roof, as well as new mechanical, electrical and plumbing systems.
Nick Kucha, James Childress and Jakob Nicholls of Newmark represented the undisclosed seller in the deal. Dave Squire and Josh Williams of Newmark served as leasing advisors on behalf of the seller and helped bring the property to 100 percent occupancy.