Newmark Facilitates Landmark Sale of Pacwest, a 30-Story Class A Office Tower in Portland’s CBD

Photo credit to Greg Kozawa

October 29, 2025 9:00 AM

Newmark announces the Company has arranged the sale of Pacwest, an iconic 30-story, 547,992-square-foot Class A office tower located at 1211 SW 5th Avenue in the heart of Portland’s Central Business District (CBD), for an undisclosed amount. The tower is one of the city’s most distinguished high-rise assets, blending institutional quality with amenities and strategic opportunity.

Newmark Vice Chairman Nick Kucha, Senior Managing Director James Childress and Directors Kellen Kollmorgen and Jakob Nicholls represented the seller.

“Pacwest exemplifies resilience and opportunity in Portland’s evolving office market,” said Kucha. “With its transit-oriented location, market-leading amenity package and premium view space, the buyer recognized the tower’s ability to cater to both traditional and creative tenant requirements in a location with enduring demand drivers.”

Pacwest is Portland’s fourth-tallest office building, offering panoramic views of the Cascade Range, West Hills, Willamette River and the Northwest District. The tower was originally developed in 1984 by Tokyo-based Mitsubishi Estate Co. and extensively renovated in 2019. The property features Portland’s premier office amenity package, with highlights including a fully renovated lobby with concierge services, an athletic club and a tenant lounge with entertaining areas and outdoor terrace.

Pacwest’s unique architectural shape and efficient floor plates provide the flexibility to deliver modern traditional layouts, open-ceiling creative spaces or hybrid designs. Currently 50% leased, the tower’s tenancy is primarily comprised of professional services firms, including legal, banking, wealth management and investment management, reflecting its prime location in Portland’s Legal District near local and federal courthouses.

Nestled in the epicenter of Portland’s 57-block Transit Mall, Pacwest offers connectivity with a 99 Walk Score, 94 Transit Score and 89 Bike Score and is within steps from multiple MAX light rail lines and over 10 bus stops within a two-minute walk.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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