DeSoto Building

An immediate opportunity exists to acquire a 25,884 SF commercial

condominium comprised of the top two floors of Portland’s DeSoto

Building, home to LRS Architects since 2007. With just over two years

remaining on the LRS lease, a new owner will have the option to either

pursue a renewal of lease with LRS Architects, re-lease to a different

tenant, or alternatively utilize the space itself as an owner-user in fall

of 2027. Regardless of what direction a new owner decides to take in

the future, however, they will do so enjoying an immediate 11.55% cap

rate return for the next two years.

Opened in 2007 as one of Portland’s most successful adaptive re-use

projects and spectacular commercial condominiums, the DeSoto

Building has enjoyed little turnover in ownership in its nearly 20 years

of operation. The owner's association holds 51% building ownership,

which gives majority control of condominium association. With only five

other owners comprising the owner’s association (including a museum,

photography studio, and two galleries), the DeSoto Building provides

a terrific investment that’s easy to operate.