1006 SE Grand Ave, Portland, OR 97214 For Sale

Ethos Commercial Advisors is proud to present the opportunity to purchase The Arcoa Building and surrounding land. An investor can secure approximately 23,688 SF of creative office and retail together with a prime site to build a new, approximately 61,486 SF project. The property is located in one of Portland’s Opportunity Zones and, with near-term expirations on parking rights, can allow an investor to meet the timing requirements for new improvements.

Apartment rents are once again on the rise in Portland and, primarily due to the Inclusionary Zoning requirements that took effect in 2017, new project starts have decreased significantly. Savvy developers who can navigate the new rules and deliver units in close-in locations will meet with very little competition over the next few years. This decrease in new apartment supply creates an opportunity for active developer to capitalize on a supply / demand imbalance.

There is also tremendous value in the existing building. Well-maintained buildings with such significant value-add potential have become rare in Portland. Historic charm, attractive facades and common areas, and high-quality tenant improvements at the Arcoa Building create a strong foundation on which both long and short-term investment strategies can be built. Experienced investors will find numerous opportunities to add value and capture untapped potential income.

Amenity-rich neighborhoods like the Central Eastside with superior access to transit allow owners to attract and retain quality tenants. With dozens of acclaimed restaurants and bars within just a few blocks of the property and the streetcar and two bus lines within two blocks, the location of the Arcoa Building has become one of the most coveted in the city for both incoming and existing tenants. The property has also benefited from attentive local ownership and has been filled with a synergistic mix of progressive tenants.