Columbia Financial Center is located at 1300 SW Sixth Ave. Norris Beggs & Simpson broker Sean Turley tells GlobeSt.com that Unitus signed a 10-year lease for 47,000 sf of the 85,000-sf five-story building. The lease commences in April.
Unitus will relocate from a building it owns at 2121 SW Fourth Ave. Unitus plans to sell the building while maintaining a retail branch there. It also plans to open a retail branch at Columbia Financial Center.
Unitus is able to move to Columbia Financial Center because its anchor tenant and current namesake, fund manager Columbia Management Group, is relocating to Bank of America Financial Center at the end of the year. Columbia Management became Bank of America's asset management division last year.
Columbia Financial Center was completed in 1964 and renovated in 1995. Unitus will occupy all of the second, fourth and fifth floors in the building as well as a portion of the first floor, leaving about 20,000 sf of availability on the building's first floor and 10,000 sf on the third floor, which is partially occupied by the Hanna Strader law firm. The advertised full-service lease rate ranges from $17.50 to $23.50 per sf per year.
Turley and Chris Johnson, also of Norris Beggs & Simpson, represented the building's owner, Erickson Realty Ltd. of Portland. Cushman & Wakefield represented Unitus and is believed to have the disposition assignment for Unitus' current headquarters.
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