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A New York-based tech firm has taken 18,967 square feet in a downtown Portland office tower.

Ubiquiti agreed to lease a full floor at Aspect on Sixth. The 11-story, 220,00-square-foot building at 400 S.W. Sixth Ave. was completed in 1961.

鈥淭his transaction demonstrates the resurgence of the Portland office market,鈥� Kidder Mathews broker Sean McCarthy stated. 鈥淯biquiti鈥檚 decision to occupy a full floor highlights the demand for quality office space in a market that is still rebounding from the pandemic.鈥�

Kidder Mathews acknowledged that the lease is for 10 years but declined to disclose other terms. The firm represented the building owner, New York Life Real Estate Investors. McCarthy and Kidder Mathews brokers Brandon O鈥橪eary and Grant Guernsey are managing leases in Aspect on Sixth.

The building includes a tenant lounge, a conference room and training facilities, bike storage, a state-of-the-art fitness center, and a newly added retail tenant, 40lbs Caf茅 + Bar. Aspect on Sixth is certified as a LEED silver building by the U.S. Green Building Council.

鈥淭his was a relatively quick deal from the initial meetings between the principals, negotiating the lease and to execution,鈥� stated Thomas Hwang, New York Life鈥檚 head of asset management for the West. 鈥淲e were both motivated to transact this lease and recognized the mutual benefits for both parties.鈥�

Ubiquiti was founded in San Jose, California, in 2003 but is now based in New York City. The public company, whose stock is traded on the New York Stock Exchange, sells wireless platforms, security tech and other products.