American Brush Building & Framework

American Brush Building & Framework 116 NE 6th Ave
Portland, OR 97232

  • $17,675,000

    Sale Price

  • $502

    Sale Price PSF

  • 02/12/2020

    Closing Date

  • 100%

    Occupancy

  • 35,197

    Square Feet

  • Office

    Property Type

Sale Summary

Address

  • 116 NE 6th Ave
    Portland, OR 97232

Sale Details

  • Sale Price$17,675,000
  • Sale Price PSF$502
  • Sale Cap Rate5.20%
  • Closing Date2/12/2020

Sale Description

American Brush Building and Framework consisted of two creative office buildings in Portland's hottest submarket - Central Eastside. The buildings totated 35,197 square feet and were 100% leased to eight tenants at the time of sale.

UD+P’s adaptive reuse of the 1907-built building - once home to the American Brush Company and renamed, simply, “American Brush” - included structural seismic renovations and design restorations featuring exposed brick and timber and open office layouts. Renovations were completed in 2013. In 2015, UD+P delivered adjacent Framework, a five-story heavy timber and curtain wall glass office building. Proximate to the Burnside Bridgehead in the Central Eastside, the assets are in one of the most desirable and quickly transforming sections of Portland.

Address

  • 116 NE 6th Ave
    OR 97232

Sale Details

  • Sale Price$17,675,000
  • Sale Price PSF$502
  • Sale Cap Rate5.20%
  • Closing Date2/12/2020