The Premier Qualified Opportunity Zone Site in Downtown Portland

Outstanding High Rise Development

Site + Creative Office Opportunity

Portland, Oregon

WashingtonCenter

DEVELOPMENT SITE

VALUE-ADD CREATIVE OFFICE

cushmanwakefield.com 2 401 SW Washington | 444 SW 5th | Portland, OR 97204

� The premier Qualified Opportunity Zone site in Portland

� Landmark central CBD location

� Zoning provides greatest FAR and tallest height allowed in Portland

� 540,000 SF development potential with ± 36 stories on half block site

� Existing, in-place income from credit tenants and parking

� Spectacular river and mountain view potential

� Located directly on MAX transit line

� Gateway location on SW Washington and SW Stark – the primary entry and exit corridors to and from downtown

� Direct access to Morrison Bridge, Central Eastside, I-84, I-5 and I-405

� Surrounded by thriving retail amenities

� Dynamic employment and population growth

� Booming office market driven by high tech companies

� Excellent hotel dynamics in the area

� Comprehensive due diligence file available for review

INVESTMENT HIGHLIGHTS

Was

hing

ton

Ave.

Star

k St

.4th Ave.

5th Ave. with MAX Light Rail

Parking Garage

401 SW WASHINGTON

PORTLAND, OR97204

CONCEPT RENDERING

444 SW FIFTHPORTLAND, OR 97204

DISCOVER PORTLAND’S OUTSTANDING HIGH RISE DEVELOPMENT SITE & VALUE-ADD OPPORTUNITY

20,000 SF Half BlockDevelopment Site

± 36 StoriesAllowed

45,585 RSF Value-Add Office Building

cushmanwakefield.com 3 401 SW Washington | 444 SW 5th | Portland, OR 97204

DISCOVER WASHINGTON CENTER

PROPERTY SUMMARY

401-409 SW Washington (Half Block)

444 SW 5th Avenue (Quarter Block)

Parcel Size20,000 SF total in two parcels

of 15,000 SF and 5,000 SF10,000 SF

Parcel Numbers

R246121 (15,000 SF) & R246122 (5,000 SF)

R246123

ZoningCX(d) – Central Commercial CX(d) – Central Commercial

Usable Square Footage

± 34,142 SF ± 45,685 SF usable, gross building area of 50,850 SF per Realquest

Year Built1977 1965

Stories3 stores, plus basement 7 stories including mezzanine

above the retail branch, plus basement

ConstructionSteel and concrete with stone

façadeSteel frame with glass curtain wall

OpportunityDevelopment Site in a

Qualified Opportunity ZoneValue-Add Office in a

Qualified Opportunity Zone

444 SW FIFTHPORTLAND, OR 97204

401 SW WASHINGTON

PORTLAND, OR97204

SW Washington Street

SW 5th

Ave

nue

SW 4

th A

venu

e

Parking Garage Entrance

cushmanwakefield.com 4 401 SW Washington | 444 SW 5th | Portland, OR 97204

ENVISION THE NEW PORTLAND TOWER

CONCEPT RENDERING

Existing FAR Designation 15:1

Total Size of 2 Sites 30,000 Square Feet

Buildable Allowed 450,000 Square Feet

Permitted Height 460 Feet

Multifamily Bonus FAR Available 3:1 (Bonus for Affordable Units)

Total FAR with Bonus 18:1

Total FAR Available with Bonus 540,000 Square Feet

DEVELOPMENT SUMMARY

Rendering Of Multi-Story High Rise On Development Site By ZGF Architects

4TH + WASHINGTON

06 NOVEMBER 2015

5

RIVER

VIE

WS

SOUTHERN VIEWS

MT. TABOR

MT. H

OO

D

MT. ADAMS

WEST HILLS

MT ST. H

ELENS

BUILDING VIEWSBUILDING VIEWS4TH + WASHINGTON

06 NOVEMBER 2015

5

RIVER

VIE

WS

SOUTHERN VIEWS

MT. TABOR

MT. H

OO

D

MT. ADAMS

WEST HILLS

MT ST. H

ELENS

BUILDING VIEWSBUILDING VIEWS

cushmanwakefield.com 5 401 SW Washington | 444 SW 5th | Portland, OR 97204

VALUE-ADD OPPORTUNITY

CREDIT TENANT OCCUPANCY

VALUE-ADD HIGHLIGHTS

IN-PLACE NET RENT

SQUARE FOOTAGE

15% $355,600*

45,685 � 15% occupied by credit tenant:

Verizon rated BBB+ (S&P)

� In-place net rent of $355,600*

� 38,861 SF of existing vacancy represents significant value-add opportunity

� Open floor plans ideal for individual tenants

� Floor-to-ceiling glass lines

� ± 12’ slab-to-slab ceiling height

� Existing second-floor roof deck

� Highly visible branding opportunity

� Opportunity to significantly expand retail square footage

* Parking revenue from 4th Avenue site and sign rental income included. See financial analysis section of the offering memorandum for additional details.

The existing 45,685 square foot, 7-story building located on the quarter-block site on 5th Avenue represents an outstanding value-add creative office opportunity. Verizon leases the full basement on a long term basis as the location for their mission critical “dial tone” for all of Portland and the 911-Emergency Response switching center. Consequently, an investor will have the luxury of a steady cash flow from this credit tenant, while converting and leasing the upper 6-floors to new creative office tenants.

VALUE-ADD OPPORTUNITY WITH EXISTING OFFICE BUILDING

cushmanwakefield.com 6 401 SW Washington | 444 SW 5th | Portland, OR 97204

ABUNDANT AMENITIES

GalleriaShopping

Center

GalleriaShopping

Center

PioneerPlace

PortlandState

University

PioneerPlace

PortlandState

University

405

AMENITY MAP KEY

Drug Stores Entertainment

Banking Restaurants

Grocery Stores Library

Light Rail Stop Light Rail/Streetcar Lines

Gym/Fitness Tourist Attraction

Retail Hotels

Nearby amenities include

food carts and cafes,

prominent retailers Apple,

Nordstrom, and Nike, Tom

McCall Waterfront Park,

and Pioneer Square dubbed

“Portland’s Living Room.” The

adjacent transit mall provides MAX

light rail and bus access, and nearby

Morrison Bridge is the primary bike

commuter bridge from close-in east side

neighborhoods. Dozens of tech companies

occupy surrounding office buildings adding

to the vibrancy of the neighborhood.

SITE

cushmanwakefield.com 7 401 SW Washington | 444 SW 5th | Portland, OR 97204

EXCELLENT ACCESS

to Naito Parkway/ I-5 South5

SITESW

Was

hing

ton

Stre

et

SW 5th Ave. & Transit Mall with MAXS Light Rail

SW 4th Ave.

Mor

rison

Brid

ge

Burnside Bridge

Willamette River

Tom McCall Waterfront Park

5

Morrison Bridge/I-5 North and Central Eastside5

Convenient Ingress/Egress

OFFERING PROCEDURE

The following procedure has been established by the owners of Washington Center. Prospective purchasers should adhere as closely as possible to this outline for their offer to receive serious consideration.

DUE DILIGENCE Following execution of the Confidentiality Agreement, Cushman & Wakefield will provide a link to the Due Diligence site where all 3rd party reports, title information, leases, agreements and other relevant property information is provided. Prospective purchasers are to complete their due diligence prior to submitting an offer.

EARNEST MONEY A minimum Earnest Money Deposit of $1,500,000 should be included in Purchaser’s Non-contingent offer.

CLOSING PERIOD A maximum 60-day period to Close following execution of a Purchase & Sale Agreement.

PURCHASE PRICE $20,500,000 for both parcels. Seller will not sell the parcels separately.

100Walk Score

98Bike Score

96Transit Score

Morrison Brid

ge to I-5 and Centra

l Eastside

to I-5 South

Naito Parkway

Tom McCall Waterfront Park

SITE

IN THE HEART OF THE CBD

GARY GRIFFSenior Director503 279 1756gary.griff@cushwake.com

JIM LEWISSenior Director503 279 1743jim.lewis@cushwake.com

Cushman & Wakefield200 SW Market StreetSuite 200Portland, OR 97201

For more information please contact:

Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.