Market Strategies Renews at U.S. Bancorp Tower

PORTLAND-Market Strategies has signed a five-year renewal lease for 12,000 sf on the 18th floor of Portland’s largest office building, the Unico/U.S. Bancorp Tower. The 750,000-sf, 42-story office tower currently has more than 200,000 sf available, including 100,000 sf being marketed for sublease by U.S. Bank.

To stay, the Chicago-based market research and consulting firm reportedly was offered tenant improvement (remodeling) money in the range of $25-$30 per sf, which is what new tenants are normally offered to relocate from another building. As well, starting form an asking rate of $26 per sf, the company was reportedly able to swing a deal for closer to $22 per sf.

Dave Squire and Brandon Frank of Grubb & Ellis represented the tenant. Mark Fraser of Colliers International has the leasing assignment for Seattle-based Unico. Eric Grindy of CB Richard Ellis has the leasing assignment for the U.S. Bank space, which is being marketed for between $21 per sf and $24 per sf.