Aaron Spencer//September 12, 2011//
The Tillamook Building in Portland鈥檚 Hollywood neighborhood has a lot going for it: a great location, a fresh remodel and abundant parking. But an unexpected death has led the owner to put it up for sale.
The building, at 2105 N.E. Cesar E. Chavez Blvd., was in the middle of a remodel when one of the owners died in 2008. The remaining owners held on to the building for a while, but now only one remains.
The asking price for the 17,500-square-foot building is $3.4 million. Also, space is available for lease.
Mike Gemmet, the owner, originally was a silent partner with three other owners, but now he says the building is too much work for him to handle alone.
Rosemary Venne said her husband held the reins for the property. 鈥淚t was a different situation when my husband was alive because he was there every day,鈥 she said. 鈥淗e was a mover and shaker.鈥
Starting in 2007, the building underwent a remodel designed by architect John Perkins. The building was expanded to include more space, and bathrooms and an elevator were added. The building鈥檚 exterior includes silver structural bays that organize windows and 鈥渃arry the rhythm of the original building,鈥 Perkins said.
The building is zoned for office space and is 70 percent leased. Brokers are looking for office tenants to lease the spaces, or for an investor to purchase the building. For details on leasing or purchasing the Tillamook Building, contact broker Craig Gilbert with Windermere Community Commercial at 503-249-1706 or [email protected].
Block by Block is a weekly look at commercial real estate around Portland. Send suggestions for properties to [email protected].