US Bancorp Unloading 100,000 SF in Big Pink

PORTLAND-Portland’s largest office building has some of the city’s largest availabilities these days. Unico Properties’ US Bancorp Tower is now sporting about 200,000 sf of space for lease, or about 20% of the building. The comparable average for Downtown class A is closer to 10%.

Half of the 200,000 sf is thanks to US Bancorp, which renewed its lease just before it sold the building to Unico in 2000 for upward of $120 million. Eric Grindy of CB Richard Ellis has the leasing assignment. The other 100,000 sf is directly available and being marketed for Unico by Mark Fraser of Colliers International.

The two will have another amenity to market next month when Pacific Coast Restaurants opens Portland City Grill on the 30th floor. The restaurant, which replaces Atwater’s, will serve American-style food, featuring steaks and seafood. Pacific Coast reportedly spent $3 million on renovations.