Vision Offices Enters Portland Market

LAKE OSWEGO, OR-Vision Offices, an executive suites firm, has signed a 10-year lease for 13,000 sf at Five Centerpointe, a 119,000-sf office building on Centerpointe Drive in Lake Oswego. It is the Phoenix-based company’s first foray into the Portland market.

Vision Offices took over the space from another executive suites operation then purchased the business and extended the soon-to-be expiring lease with building owner Light Street Partners LLP. As was the previous operator, Vision is leasing space is on the ground floor and on the fourth floor of the building.

The full-service asking rate for space in Five Centerpointe is $26 per sf. Sources informed of the Vision deal say the average rate over the life of the lease is close to the asking rate, which would make it close to a $3.5.-million deal.