RARE CLASS A OWNER/USER OFFICE For Sale in Portland’s Prominent Lloyd District
711 NE HALSEY STREET, PORTLAND, OR CONTACT
MARK MCFARLAND, SIOR 503.341.5799 [email protected]
DAVID HILL 503.724.3540 [email protected]
CARTER MCFARLAND 503.721.2726 [email protected]
WENDY HILL 503.313.8642 [email protected]
KIDDER.COM
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
711 NE HALSEY STREET KIDDER MATHEWS 2 PROPERTY OVERVIEW
Address 711 NE Halsey Street, Portland, OR 97232
Assessor Parcel # 1N1E26CC 12500
No. of Stories 2 (elevator served) PROPERTY Gross Building Area 10,200 SF (5,100 SF on each floor) Site Area 9,500 SF OVERVIEW Year Built/Construction 1995/Steel frame and masonry Extensive, including 9 secure spaces on-site, Parking curbside parking, and an adjacent commercial Kidder Mathews has been retained parking garage to market for sale this rare Class A Zoning CXd (Central Commercial) The building is well suited to serve office building located in Portland’s one or multiple tenants, with a prominent Lloyd District. Plan District Central City recessed main entry storefront leading to a ground floor lobby Max Floor Area Ratio (FAR) 6:1 that is served by an elevator and THE OFFERING staircase accessing a second- floor Max Building Height 150' base (225' with bonus) 711 NE Halsey is a rare, smaller scale lobby. Office, retail, and residential, among others Broad Range of Uses Class A office building containing allowed approximately 10,200 square feet The interior is primarily improved Qualified Opportunity Zone Yes on two floors. with 9-foot-high dropped acoustical tile ceilings, 8-foot solid-core wood The building’s steel frame doors, recessed fluorescent lighting, Offered at $3,600,000 construction with brick and carpet, decorative tile floors in the ornamental tile exterior reflects the lobby areas, and painted sheetrock highest quality construction. walls.
711 NE HALSEY STREET KIDDER MATHEWS 3 GROUND FLOOR - 5,100 SF
LARGE reception area off the main lobby
DECORATIVE tile floor in lobby area
MULTIPLE private offices
CONFERENCE ROOM designed to seat 39+ people
AUDIO-VISUAL improvements in corporate conference room
KITCHEN/BREAK room
8-FOOT solid-core wood doors
9-FOOT high dropped acoustical ceilings
RECESSED fluorescent lighting
RESTROOMS for men and women
711 NE HALSEY STREET KIDDER MATHEWS 4 SECOND FLOOR - 5,100 SF
MULTIPLE private offices
DECORATIVE tile floor in lobby area
CONFERENCE room
SERVER room
EXERCISE room with showers in the restrooms
KITCHENETTE included
RECESSED fluorescent lighting
8-FOOT solid-core wood doors
RESTROOMS with showers for men and women
711 NE HALSEY STREET KIDDER MATHEWS 5 THE SITE
BICYCLE FRIENDLY Bike access is very favorable with bike lanes provided on adjacent EXTERIOR NE 7th Avenue as well as multiple TRANSPORTATION ACCESS The building is located on a 9,500 STREETS AND ACCESS nearby roadways. SF site that includes nine striped The site also has excellent access The property has excellent local to public transportation. It is and secure parking spaces and ZONING perimeter landscaping. and regional access. It is within two adjacent to the Portland Street Car blocks of the heavily traveled NE line running along NE 7th Avenue The site is zoned Central Commercial Grand Avenue/NE Martin Luther which connects with a MAX Light (CXd), which allows a broad range HIGH EXPOSURE CORNER King Boulevard (Highway 99E) Rail Station 5-blocks to the south of high-density office, retail, and It has good exposure with its corner and NE Broadway/NE Weidler at NE Holladay Street. residential uses, among others. location at NE 7th Avenue and couplets, one-half mile from I-5 and The base zoning allows for up to full-block frontage on NE Halsey I-84 freeway access,and one mile The site is also just two-blocks from 57,000 SF of building area to be Street between NE 7th and NE 8th from the Portland CBD via multiple frequent Tri-Met bus service on NE constructed up to 150 feet in height, Avenues. bridges over the Willamette River. Grand/NE MLK (Route 6). potentially 225 feet with bonuses.
711 NE HALSEY STREET KIDDER MATHEWS 6 FLOOR PLANS
Floor 1
Floor 2
711 NE HALSEY STREET KIDDER MATHEWS 7 The Lloyd District is a vibrant area of close-in eastside Portland. have also been constructed including the 657-unit Hassalo on Eighth. American Assets is a major investor 711 NE Halsey's neighborhood has and landowner in the neighborhood and has sights historically been dominated by the on additional major new mixed-use development. Lloyd Center regional mall, high- rise office towers, large regional In addition to the concentration of larger commercial entertainment centers including and multi-family development, the area has extensive Rose Garden (home of the Portland restaurants, retail, and personal service businesses Trailblazers), Memorial Coliseum, supporting workers, residents, and travelers in the area. Oregon Convention Center, and supporting hotels. NE Broadway, just two blocks north of the property, is a major commercial corridor and serves as a major Major Class A office towers include arterial connecting the CBD with Portland’s northeast the 20-story Lloyd Center Tower and neighborhoods. Just north of Lloyd District is Irvington, 16-story Lloyd 700 Building. The a historic residential neighborhood with some of the 600-unit Hyatt Regency Portland finest single-family homes in the City. The popular LOCATION is a major convention center hotel Central Eastside District is located adjacent south, and just completed at the end of 2019. the Portland CBD and Pearl District are easily accessible Over the past decade, extensive from the Lloyd District, just across the Willamette River OVERVIEW high-density apartment projects via both the Steel and Broadway Bridges.
95
WALK SCORE
100
BIKE SCORE
77
TRANSIT SCORE
711 NE HALSEY STREET KIDDER MATHEWS 8 AREA MAP
IRVINGTON
WILLAMETTE RIVER
NE BROADWAY SUBJECT
NE WEIDLER ST PROPERTY
MEMORIAL LLOYD CENTER COLISEUM
MODA CENTER
BROADWAY BRIDGE LLOYD DISTRICT
NE HOLLADAY ST
CONVENTION CENTER
STEEL BRIDGE NE GRAND AVENE NE MLK BLVD NE 7TH AVENE
PORTLAND CBD
BURNSIDE BRIDGE CENTRAL EASTSIDE
711 NE HALSEY STREET KIDDER MATHEWS 9 TRANSPORTATION The Lloyd District has exceptional regional auto, public transit, and pedestrian access.
The neighborhood is bordered by Interstate 84 and bisected by Interstate 5 and State Highway 99E. It is served by the Portland Street Car, MAX Light Rail, and Tri-Met bus routes.
Extensive bike lanes are provided in the area allowing for easy commuting across the Willamette River to and from the 3 MILES Portland CBD and Pearl District, as well as nearby residential areas.
A new $13 million bike and pedestrian bridge is also being constructed across I-84 directly south from the property along NE 7th Avenue, providing a more convenience and friendly connection between the Lloyd District and Central 1 MILE Eastside District to the south.
SUBJECT DEMOGRAPHICS PROPERTY 1 Mile 3 Miles
Population 26,253 240,802
Annual Population 3.1% 2.0% Growth (2010-2020)
Households 13,777 118,682
Avg HH Income $91,989 $106,763
Median HH Income $64,353 $80,383
Total Employees 50,351 305,690
711 NE HALSEY STREET KIDDER MATHEWS 10 EXCLUSIVELY REPRESENTED BY
MARK MCFARLAND, SIOR 503.341.5799 [email protected]
DAVID HILL 503.724.3540 [email protected]
CARTER MCFARLAND 503.721.2726 [email protected]
WENDY HILL 503.313.8642 [email protected]
KIDDER.COM