Park Avenue West | 501' 7" | 30 floors | Completed

[maccoinnich]

Portland's newest office building is all leased up, but the residential side has a ways to go



As far as Class A office space goes, Park Avenue West is, apparently, the happening place to be.

According to a release this morning from TMT Development, the firm behind the 30-story tower, all nearly 194,000 square feet of office space has been spoken for with a handful of additional tenants. Most of the space had already been tied up by last fall.

Relatively new to the lineup: Portland development firm Guardian Real Estate Services, which is moving into 9,358 square feet on the 22nd floor and which will also act as the building operator. TMT Development will also move its headquarters from the nearby Fox Tower into 5,000 square feet of space in Park Avenue West on the 22nd floor.

...continues at the Portland Business Journal.

[maccoinnich]

Inside Stoel Rives' lofty new digs at Park Avenue West (Photos)



It took a long time to get there — close to eight years — but for the 335 people now working for Stoel Rives high above Portland in the law firm's new Park Avenue West tower headquarters, the wait was likely worth it.

It's hard not to focus on the expansive vistas that the top nine floors of Park Avenue West afford to the folks who work in the 30-story tower:

• Sprawling views out of private offices and conference rooms named after Portland neighborhoods.
• Glances of the Willamette River, Mt. Hood, Mt. Adams and Mt. St. Helens from stunning open-air terraces on the 26th and 30th floors.
• Lofty perspectives of downtown from inside wood-paneled hallways.

...continues at the Portland Business Journal.

[MarkDaMan]

Portland's newest tower marks its official grand opening (Video)
Jul 27, 2016, 11:16am PDT
Jon Bell
Staff Reporter
Portland Business Journal

http://www.bizjournals.com/portland/...895&j=75218822

The first residents moved in earlier this year and anchor tenant Stoel Rives unpacked its boxes at the end of May, but TMT Development is celebrating the official grand opening of its Park Avenue West tower this afternoon.

Now headed by Vanessa Sturgeon, TMT embarked on the project nine years ago. Knocked off course by the recession, the 30-story tower nevertheless found its way to completion earlier this year. Designed by Portland's TVA Architects, the tower includes 13 stories of Class A office space and 15 stories with 202 luxury apartments.

All of the office space has been spoken for; by the end of May, more than 50 of the apartments had been leased, and TMT was signing new leases at a rate of about six per week.

Today's festivities run from 1 p.m. to 3 p.m. and kick off with remarks from several stakeholders in Director Park...(continues)

[Tykendo]

Great video. This truly is, a great addition to the city and it's skyline. Hopefully TVA's 4th and Washington concept comes on line soon. I really dig their work.

[MarkDaMan]

Park Avenue West lands an iconic Oregon tenant
Jan 9, 2017, 11:08am PST
Jon Bell
Staff Reporter
Portland Business Journal

http://www.bizjournals.com/portland/...530&j=77021331

Downtown Portland's sleek new Park Avenue West tower is going to be home to the flagship store of one of the state's oldest and most iconic brands.

Pendleton Woolen Mills, the 153-year-old company renowned for its blankets, throws and apparel, has signed on for just over 3,000 square feet of retail space in the base of Park Avenue West. It will occupy the space in the southeast corner of the building across from Director Park and Nordstrom.

...(continues)

[babs]

Originally Posted by MarkDaMan

Park Avenue West lands an iconic Oregon tenant
Jan 9, 2017, 11:08am PST
Jon Bell
Staff Reporter
Portland Business Journal

http://www.bizjournals.com/portland/...530&j=77021331

Is it me or did they seem to really struggle filling up retail in this building? A stock brokerage and a clothing brand that's having issues are hardly the tenants they anticipated when they first proposed this building. Is Pendleton taking any of the second level space?

[innovativethinking]

Adidas should open a store there

[maccoinnich]

See inside Pendleton's new Portland flagship store



After years in a small store in the Standard Insurance building, Pendleton Woolen Mills has found a space worthy of flagship status. The new 2,500-square-foot space at the base of the gleaming Park Avenue West tower downtown opened its doors late July, and will celebrate its grand opening throughout the month.

...continues at the Oregonian.

[MarkDaMan]

https://forum.skyscraperpage.com/new...reply&t=123828

A Developer Promised Union Jobs in Exchange to Build Tall. The Construction Happened. The Jobs Didn’t.
Portland City Hall cut a lousy deal: “The rule and agreement were not written well.”
By Rachel Monahan | Published March 27 at 5:31 AM Updated March 27 at 5:31 AM

In 2014, real estate developer Vanessa Sturgeon inked a deal with City Hall to build a 30-story downtown residential and office tower, the fourth tallest on the Portland skyline.

That tower, Park Avenue West, was a win for city officials, who had watched the property sit fallow for so many years it had earned a nickname: "the Moyer Hole," after owner Tom Moyer, Sturgeon's grandfather. It was a win for Sturgeon, whose building would be allowed to soar 30 stories—because the city agreed to let her build higher than zoning codes would usually allow.

And it was supposed to be a win for organized labor: In exchange for permission to build higher, Sturgeon agreed to contract with a company that hired union cleaners and security guards in the commercial parts of the building. (She also paid the city $100,000.)

But Sturgeon hired no contractors for cleaning.

Instead, she found a way to wiggle out of the deal: Commercial tenants at Park Avenue West would hire their own non-union cleaners and the agreement did not explicitly prohibit that.

"The intent was to require cleaning staff to be represented [by a union]," says Marshall Runkel, chief of staff to City Commissioner Chloe Eudaly. "Everyone agrees that is not happening." Runkel concedes City Hall cut a lousy deal: "The rule and agreement were not written well."

Service Employees International Union Local 49 says the deal is clear enough—the city just isn't enforcing it. Sturgeon, through an assistant, declined to comment. Her attorney, in letters to the city, contends she is abiding by the agreement.

"I thought we agreed to fair treatment—and fair wages—for janitors providing services to Park Avenue West, and I'm disappointed we haven't had a better partner" in Sturgeon's company, TMT Development, says City Commissioner Nick Fish. "I certainly didn't expect we'd spin our wheels for this long arguing over the letter and spirit of the deal."

The case of Park Avenue West is important because it demonstrates how the city gives away millions of dollars worth of value to developers—without ensuring they keep their end of the deal.

...(continues)