22
PORTLAND, ORE. — Marcus & Millichap Real Estate Investment Services has sold the Beacon, a 10,000-square-foot land parcel in Downtown Portland, for $2.25 million. The Beacon was initially set to become a 158-unit workforce housing complex, but was re-branded by Marcus & Millichap into a student housing development due to its close proximity to Portland State University. Both the buyer, American Campus Communities, and the seller, PJC 1 LLC, were represented by Marcus & Millichap's Tyler Johnson, Dorothy Jackman and Travis Prince.