Shorenstein Signs NAI NBS to Lease Lincoln Center
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Shorenstein Realty Services, L.P., has signed on NAI Norris, Beggs & Simpson as the leasing brokers for Lincoln Center, announced NAI NBS President J. Clayton Hering. The leasing team will be led by Bill Smith, Vice President, and Jeff Borlaug, Associate Vice President. The team leased for the property’s two previous owners, most recently Equity Office Properties Trust.
Lincoln Center is one of 46 Portland-area properties the San Francisco-based real estate investment firm has purchased from the Blackstone Group in an acquisition reported to total $1 billion. Shorenstein’s purchase comes in the wake of Blackstone Group’s record-breaking $39 billion purchase of the Equity Office Properties Trust portfolio earlier this year, which constituted the largest leveraged buyout in history.
The transactions have sparked anticipation in the local commercial real estate community, which has been anxious to determine what Shorenstein’s influence will be in the Portland market.
“Shorenstein is poised to be the standout new Suburban office landlord – a player to set the bar, given its sterling reputation and successful track record in Class A properties nationwide,” states Borlaug. He added that the privately-held Shorenstein brings localized decision making to the property.
Smith concluded, “They will be an incredible landlord addition in the Portland Metropolitan area.”
Lincoln Center consists of nine of buildings totaling approximately 735,000 square feet of both Class A office and retail space in the Tigard submarket adjacent to the Washington Square Mall on Greenburg Road.
April 17, 2007
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