One Main Place
One Main Place from the south
One Main Place (Portland, Oregon) is located in Portland, Oregon
One Main Place (Portland, Oregon)
Location within Portland, Oregon
General information
TypeOffice
Location101 SW Main Street
Portland, Oregon, United States
Coordinates45°30′56″N 122°40′31″W / 45.51556°N 122.67528°W / 45.51556; -122.67528
Completed1982
Height
Roof270 feet (82 m)
Technical details
Floor count20
Floor area353,000 square feet (32,800 m2)
Design and construction
Architect(s)Skidmore, Owings and Merrill
Main contractorHoffman Construction

One Main Place is a privately owned commercial office building in Downtown Portland, in the U.S. state of Oregon. Located at the west end of the Hawthorne Bridge, the 20-story skyscraper is 270 feet (82 m) tall. Completed in 1982, it is the fifteenth tallest building in Portland, and the sixteenth largest by square-foot. Designed in the modern style by Skidmore, Owings and Merrill, it is a concrete and glass tower.

History

The structure was designed by architectural firm Skidmore, Owings and Merrill and built by Hoffman Construction Company, with completion coming in 1982.[1] One Main Place was acquired by the Equitable Life Assurance Society from Marathon Realty U.S. for $35 million in 1995.[2][3] The pension fund for Los Angeles' police and fire departments bought the office tower in December 1998 for $44.5 million, after having owned 10 percent of the building since the 1995 sale.[1][2] RREEF Realty Investments (part of Deutsche Bank) purchased the building in 2006 for $69.3 million, and then sold it in January 2010 to KBS REIT II for a reported $57 million.[4] RREEF had attempted to sell the office tower in 2009, but halted efforts in October after bids were lower than anticipated.[1][5] The deal on the building was anticipated to close in April, but was completed early in February.[4][6] KBS sold the building in 2014[7] to New York Life for $86.3 million.[8]

In 2019, Sterling-Pacific Commercial Roofing & Waterproofing was hired by New York Life Insurance Company to replace the original roof on One Main Place. The original roof system lasted for 37 years. It was replaced with an EPDM roofing system from Carlisle. The installation was supervised by legendary roofer, Sean Britt. The project management team was James Drinkward of Sterling-Pacific, Paul Amos of Harper Winn, and Chuck Marvin of RSI Results.

Details

One Main Place is 20 stories tall and has 353,000 square feet (32,800 m2) of space.[4][9] The building has 292,971 square feet (27,217.9 m2) of leasable space, making it by area the 16th largest in Portland.[10] Designed in the modern style, the 270-foot (82 m) tall structure is used for class A commercial office space.[3][6] The concrete building utilizes a curtain wall. The World Trade Center is directly north and east, while First & Main lies adjacent to the south.

Tenants include law firms, Banner Bank, Yellowpages.com, and Tripwire, a software developer, among others.[4][11] Tripwire and the Education Northwest are the largest tenants, with the former occupying 32,000 square feet (3,000 m2) of space and Education Northwest taking up almost 50,000 square feet (4,600 m2).[10][11] The building is decorated each year during the winter holidays, utilizing a different theme each year and using a fireplace located in the lobby as part of the theme.[12] These decorations won a local award in 2002 for its Home for the Holidays theme.[13]

References

  1. 1 2 3 Culverwell, Wendy (January 22, 2010). "One Main Place to sell for $57 million". Portland Business Journal. Retrieved January 23, 2010.
  2. 1 2 Miller, Brian K. (January 15, 1999). "1 Main Place in fire--and police--sale for $44.5M". Portland Business Journal. Retrieved January 23, 2010.
  3. 1 2 "One Main Place". Portland. Emporis Corporation. Archived from the original on June 4, 2011. Retrieved January 23, 2010.
  4. 1 2 3 4 Hunsberger, Brent (January 22, 2010). "Another deal for a Portland office tower". The Oregonian. Retrieved January 23, 2010.
  5. ↑ Culverwell, Wendy (October 30, 2009). "Slow sales slam office market". Portland Business Journal. Retrieved January 28, 2010.
  6. 1 2 "One Main Place sold to KBS REIT II". Portland Business Journal. February 9, 2010. Retrieved February 11, 2010.
  7. ↑ Bell, Jon (December 18, 2014). "Downtown office building sells again less than 5 years after most recent sale". Portland Business Journal. Retrieved December 19, 2014.
  8. ↑ Bell, Jon (December 29, 2014). "Downtown office building went for $86.3M". Portland Business Journal. Retrieved December 30, 2014.
  9. ↑ "101 SW Main St - Downtown - Portland". PortlandMaps. City of Portland. Retrieved February 11, 2010.
  10. 1 2 "Education group renews lease at One Main Place". Portland Business Journal. July 16, 2009. Retrieved January 28, 2010.
  11. 1 2 Graf, Tyler (September 8, 2009). "One Main Place tower is for sale". Daily Journal of Commerce. Retrieved January 28, 2010.
  12. ↑ Curl, Aimee (December 24, 2003). "Decking the halls and walls for some good-natured competition". Daily Journal of Commerce. Retrieved January 28, 2010.
  13. ↑ Fehrenbacher, Gretchen (January 30, 2002). "BOMA pins awards on standouts". Daily Journal of Commerce. Retrieved January 28, 2010.
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