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A New Era for Portland’s Icon
Reimagining Oregon’s largest office building, the U.S. Bancorp Tower, also known as “Big Pink,” represents a major stride in Portland’s downtown revival.
Lease Leadership and Historic Change
In a significant move, Kidder Mathews was selected to lead the leasing for this landmark building. This decision coincides with a large-scale repositioning project, setting the stage for Portland’s renewed urban vibrancy. The acquisition by Jeff Swickard of the Swickard Group for $45 million was a noteworthy transaction. This reflects renewed confidence in the city, despite the considerable value shift from its $372.5 million sale in 2015.
A Landmark with a Legacy
Completed in 1983 and refreshed in 2015, Big Pink is a defining feature of Portland’s skyline. Situated at 111 SW 5th Avenue, it anchors the north end of the Central Business District. It’s conveniently close to hotels, restaurants, and a myriad of businesses that embody the city center’s dynamic character.
Plans for Modernization
Swickard Group is spearheading the building’s comprehensive modernization, which includes the adjacent plaza and a 12-story parking structure. This transformation aims to blend workplace creation with Portland’s vibrant, community-driven culture. The early concepts include:
- New amenities catering to dynamic companies
- Curated retail and dining options
- Reactivated public spaces with art and technology
- A hospitality-inspired interior experience
A Vision for Transformation
“Big Pink will be a destination for people to work, meet, create, and rediscover their connection to downtown Portland,” said Swickard. The project embodies a deep-seated belief in this city’s future. Kidder Mathews’ Brandon O’Leary and Sean McCarthy, seasoned in Portland’s real estate, were chosen for their expertise and shared vision.
The Role of Big Pink in Portland’s Revival
When an iconic property like Big Pink succeeds, it uplifts the surrounding neighborhoods. With large contiguous blocks of office space, the tower is strategically poised to attract companies eager to be part of Portland’s resurgence.
- Prime View Floors: Offers expansive views of the city
- Strategic Location: Situated at the heart of the business district
Exceptional Opportunities
O’Leary remarked, “Jeff’s vision for Big Pink and our city’s resurgence is infectious. We seldom get the chance to work on such a prestigious project that can transform communities.”
McCarthy added, “Big Pink has transformative potential. It’s about rebuilding a sense of place—not just filling space.”
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm in the Western U.S. Boasting over 900 professionals across various states, the firm’s comprehensive services span brokerage, appraisal, asset management, and more. Their impressive credentials include:
- $9 Billion: Average transaction volume
- 53 Million Square Feet: Managed space
- 2,400 Assignments: Annual appraisal and consulting
For further details, visit Kidder Mathews.
