Investment Highlights
- Award-Winning High-Rise with Expansive Views: YARD sits at the geographic center of Portland, perched above the Willamette River with protected view corridors in multiple directions.
- Deep Discount to Replacement Cost: The construction cost index has increased by ±60% since YARD was completed, which leads to an estimated reproduction cost in the realm of $600,000/unit.
- Retail Anchored by High-Profile Knot Springs: Portland's most popular wellness club expresses long-term commitment to the property with potential expansion. Accepted LOI will bring occupancy to 100%.
- Rental Upside in Rebounding Core Market: Moody's projects Portland's effective rents will grow 2.8% in 2025 and 3.8% annually over the next five years, surpassing the 3.2% national average, while high-rise vacancy is at its lowest point since 2015.
- Limited Supply in Highly Sough-After Submarket: Portland is experiencing its lowest level of multifamily development since 2011, with new construction volume down more than 85% from peak levels.
Exclusively listed by
Broker of Record
David Tabata
Regional Manager
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