The buyer acknowledges the purchase is an against-the-grain move amid market unease downtown.
PORTLAND, Ore. — Melvin Mark Investors last week bought the historic Alderway Building in what’s shaping up to become a high-profile part of downtown Portland, though recent vacancy trends offer a note of caution.
The building at the corner of Southwest Alder Street and Southwest Broadway houses Kassab Jewelers and other tenants. It is about two-thirds leased, according to MMI, and the building consists of 46,000 square feet.
The buyer acknowledges the purchase is an against-the-grain move amid market unease downtown, where CBRE most recently pegged office vacancy at 26%. Even
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