Paccess is an independent packaging service provider that heretofore leased 20,000 sf on the 9th and 8th floors of the 16-story Liberty Centre. At Lloyd 700, the company is occupying the 16,288-sf 16th floor as well as 3,200 sf on the building's Lower Level that is being built out as a design center to support development of new packaging products.

Paccess could not immediately be reached for comment, but Ashforth Pacific's leasing director Doug Pugh tells GlobeSt.com that Paccess is paying a lower rent than in the newer Liberty Center building while gaining great views and greater efficiency by having a design center in the same building. The annual full service asking rate at Lloyd 700 is $20.50 per sf. It's $24.50 at the newer Liberty Center.

Ashforth Pacific owns three of the five class A office buildings in the Lloyd District. Ashforth used to own one of the two remaining class A office buildings as well, but sold it to health care provider Kaiser Permanante. The fifth building is Insignia/ESG's 1201 Lloyd Building, which remains all but vacant after being completed this spring. Ashforth's space is 97% occupied.

The Lloyd 700 Building, located one block west of the Lloyd Center on NE Multnomah, was built in 1970 and renovated in 1992. Ashforth acquired the 238,902-sf building in September 1996. The top floor of the building was made available several months ago when the start-up Supertracks went bankrupt. Brokers Mike Holzgang and Gordon King of Colliers International represented Paccess in its lease negotiations with Ashforth.

Liberty Centre is Ashforth's newest building. Ashforth developed the 277,552-sf office tower in 1997 in partnership with anchor tenant Liberty Mutual Insurance. Ashforth also owns the largest building in the District, Lloyd Center Tower, a 20-story, 431,270-sf building built in 1981 and anchored by PacifiCorp.

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