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A partnership including Unico Properties has purchased the Galleria Building, a downtown Portland landmark that dates back to 1910, and a renovation project is now planned for the upper two floors.

Unico and its partners, who were not identified, bought the property from Bill Naito Company for $64.1 million, according to a deed recorded Dec. 13.

The five-story, 194,737-square-foot Galleria occupies a full block in the West End. The building was originally an Olds, Wortman & King department store, and is now anchored by Target in an 89,000-square-foot space designed by FFA Architecture and Interiors.

Target opened in the building in 2013.

Currently, the Galleria’s top two floors are vacant.

鈥淲ith 80,000 square feet of available office space on the upper two floors, we plan to make significant capital investments to convert the existing office space to creative office space, and bring a first-class tenant experience to the building with a new lobby and new common area amenities,鈥� Brian Pearce, Unico’s senior vice president of real estate services, stated in a news release.

Urban Works Real Estate has listed for lease three ground-floor retail spaces totaling nearly 20,000 square feet at the building’s corner of Southwest Ninth Avenue and Morrison Street. A representative declined to comment Tuesday.

On Jan. 24, the new owners submitted to the Bureau of Development Services a request for design advice for a renovation including a new office penthouse and roof terraces. The owners also on Jan. 25 requested a complex zoning analysis of the property relating to a transfer of floor area ratio.

The building is listed on the National Register of Historic Places.

Editor’s note: this story has been updated to reflect the building’s correct sale price.