Sep
17
Portland Historic Office Buildings Change Hands
ByNBP Capital acquired the Blagen Block and the New Market Theater in Portland’s CBD. The two buildings are among the few remaining Victorian Italianate buildings in the city.
Swift Real Estate Partners sold the Blagen Block and the New Market Theater, two buildings in Portland, Ore.’s Chinatown district, to NBP Capital. The new owners secured a $26.8 million acquisition loan.
VICTORIAN ARCHITECTURE
Blagen Block, located at 30 N.W. First St., is a historic four-story, 46,000-square-foot asset in Portland’s central business district. Completed in 1888, the Victorian Italianate building is fully leased by Airbnb. New Market Theatre, a six-story property at 50 S.W. Second Ave., was constructed in phases, beginning in 1872 and 1875. The building, which once held a 1,200-seat theatre, is now home to Portland’s Saturday Market. Earlier this year, Swift leased nearly 10,000 square feet at New Market Theater to PIA Communications…
