Nike Competitor Leases Eastside Building

PORTLAND-Three months after completing their makeover of a 4,500-sf industrial building at 711 SE Ankeney St., Jon Kellogg and Thad Fisco have sewn up a taker for the single-story tilt-up.

AND 1, a seven-year-old basketball footwear and apparel company, signed a five-year lease last week for the space, which has 13-foot-high ceilings and exposed brick and beams. The annual full service lease rate for the space is 16.35 per sf. It will be the company’s first office in Portland. They were represented in the lease by Brandon Frank of Grubb & Ellis.

Kellogg and Fisco acquired the circa 1960s building last November for about $275,000, according to public records. Kellogg declined to reveal the cost of renovation, but says it included a new storefront, all new glazing, new metal awnings, new mechanicals and a new roof. “What was attractive was it had very sound bones and nice, clean, simple lines,” says Kellog. “And 1 is the perfect fit; it’s the type of use we targeted.”