BPM Real Estate Group will construct a tower that has 170 hotel rooms and 200,000 square-feet of office space.
BY JACOB PALMER | DIGITAL NEWS EDITOR
BPM Real Estate Group will construct a 20-story tower that has 170 hotel rooms and 200,000 square-feet of office space in downtown Portland.
It will also include 320 parking spots in an underground garage.
“Portland has one of the highest Class A office occupancy rates in the nation,” said Walter Bowen, BPM’s president, in a release “Given the success we are having with leasing our Pearl West building to companies like WACOM, Howard S. Wright, and Regus, I believe it is time for another well-designed and -built office building to be constructed downtown.”
BPM is working with the city of Portland on the entitlement process for the property and expects to break ground on the project in April 2016. Completion is expected by in spring 2018.
(SOURCE: Portland Business Journal)
An unnamed national hotel is interested in the space.
“Like Pearl West, we will build [the newly announced building on Broadway] on a speculative basis,” said Walter Bowen, BPM’s president. “But interestingly, we have already heard from several large prospective tenants who are interested in leasing space.”
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Bowen said in the release that the new building “will feature one of the largest contiguous blocks of office space in the region.” It will also have “rooftop amenity space” and an on-site bar, restaurant and fitness center. All told, the building will comprise 448,000 square feet.
(SOURCE: OregonLive.com)
