The partners who purchased the five floors of the historic Meier & Frank Building in downtown Portland from Macy's plan to convert the space from textbook department store to sleek, modern-day creative office space.
KBS and Sterling Bay, which bought the lower five floors of the 16-story building from Macy's for $54 million last fall, has shared their initial vision for the space in a series of renderings. The images show some of the hallmarks of contemporary creative office space, including wide-open work spaces, employee lounges and an expansive fitness room.
“We are excited to be creating such unique office space in a historic Portland building,” said Sterling Bay managing principal Andy Gloor, in a release. “This location — sitting on the Max directly across from Pioneer Square — is unparalleled.”
Extensive renovations of the five floors will convert the space into 158,500 square feet of available creative office space. Floor plates will hit 40,000 square feet, a large offering that many companies are in search of these days. There will also be 40,000 square feet of retail space on the ground level. Plans for that space should be unveiled in the near future.
“This is a classic downtown building and we are thrilled to be a part of its modernization,” Kafoury said, in the release. “Interest is already high which only reflects the uniqueness of the property and its ideal location.”
Macy's is currently in the throes of a clearance sale, which kicked off in January. It was expected to last between eight and 12 weeks. Renovations should begin later this spring.
The Portland Business Journal is a KGW News partner.
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