150 units — all smaller than 300 square feet — for sale in Portland

The Freedom Center in the Pearl District is for sale again.

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The Freedom Center in the Pearl District is for sale again after it didn’t sell two years ago when it hit the market.

The building has 150 micro-apartments.

“Two years ago, [a micro-apartment project] wasn’t as well received as today,” said Gary Griff, who is handling the sale out of Cushman & Wakefield’s Portland office. “The market’s matured, and there’s more of the micro-units being developed. And the proof is in the results. The property is 96, 97 percent leased at all times.”

The building, located at 1430 N.W. Pettygrove St., is composed entirely of studio units, many smaller than 300 square feet. A sale of the Freedom Center, which opened in 2012, would be the first in the nation for a micro-apartment building of its size, Griff claims.

(SOURCE: OregonLive.com)

The average monthly rent for the micro-units is between $1,000 and $1,100.

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