Newmark Negotiates 11,800-Square-Foot Office Lease in Portland’s North Pearl District

November 3, 2022 9:00 AM

Newmark announces that Propeller, Inc., an Oregon-based management consulting firm, has signed a new 11,747-square-foot lease in Portland’s North Pearl District. The company is relocating its Portland office buidling to Field Office, located at 2035 NW Front Ave.

Newmark Managing Directors Travis Parrott and Josh Schweitz and Executive Vice President and Managing Director Dave Squire represented the landlord, LPC West and the Real Estate business within Goldman Sachs Asset Management.

The Field Office campus is comprised of two Class A, LEED-certified Platinum office buildings with a large communal outdoor space. Designed with the collaborative work environment in mind, Field Office features state-of-the-art technology and amenities, modernized architecture, indoor and outdoor gathering space and views of Forest Park, Willamette River and the Cascade Mountains.

“Field Office offers a top-of-the-market Class A Office Environment, filled with high end amenities, outside courtyard space, Willamette River views and decks on every floor,” said Lee M.W. Morrison, Senior Vice President of LPC West. “We know that all of the amenities played an important role in Propeller’s decision to become the newest tenant at Field Office and we could not be more thrilled to welcome them.”

“We are excited to be at the Field Office. The past year we really listened to our employees and they were seeking more opportunities to come together for collaboration and socialization. The dynamic office space at the Field Office provides just that,” commented Amy Weeden, Chief Executive Officer of Propeller, Inc. “As a firm, our top values are centered around our commitment to people and our communities. With our new office space, we’re able to continue to uphold those values. We’re looking forward to hosting clients for working meetings, networking happy hours, and welcoming our community partners into our space.”

Parrott added, “We are very excited to welcome Propeller to Field Office. We continue to see companies in this market flock to best-in-class projects that are highly amenitized and prioritize health and wellness.”

The Field Office campus is prominently located on Front Avenue and within walking or commuting distance from a variety of Portland’s finest shops and restaurants at The Pearl District and Slabtown including the Dockside, Cascadia Coffee Pub, Emerald Line, Ovation Coffee, Besaws and New Seasons.

Trevor Kafoury and Autumn Brice of Colliers represented the tenant. Propeller, Inc. is a management consulting firm that helps clients thrive in change with solutions that build momentum with their people and drive impact within their organization, and has offices in Portland, San Francisco, Silicon Valley, Denver, Minneapolis and Dallas.

About Goldman Sachs Asset Management Real Estate
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1991, the Real Estate business within Goldman Sachs Asset Management is one of the largest investors in real estate with over $50 billion in assets invested since 2012 across the spectrum of investment strategies from core to opportunistic. Our global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity.

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. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.