The independent provider of data and technology to the automotive sales industry has occupied the Lloyd District building since November 1999 through a sublease with the Port of Portland. The firm will now occupy 16,000 sf on the 15th floor of the building through a direct lease with Ashforth Pacific.

Chrome Systems allows automobile dealers, manufacturers, fleet leasing companies, Internet portals, financial institutions and insurance companies to specify, price, locate, order, buy and sell vehicles online. Mark McFarland of Trammell Crow represented the company in its lease negotiations. Ashforth Pacific was represented in-house by Doug Pugh.

Ashforth owns in excess of 1 million sf of office space in the Lloyd District, all of which is 97.6% leased. The Lloyd 700 Building, located one block west of the Lloyd Center on NE Multnomah, has 238,902 rentable sf. The annual full service asking rates in the building are $20.50 per sf, but as of late asking rates have typically ended up being the average rate over the life of the lease rather than the starting point. Substantial tenant improvement allowances and free rent are also being thrown about to attract and retain tenants, though not specifically on the Chrome Systems transaction.