Cascade Station sale yields $30M for Trammell Crow
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Trammell Crow Corp. has sold one of its signature Portland office projects to a new California-based partnership.
Woodside Palisades Partners, a venture between Joaquin Charles de Monet of Palisades, Calif. and two Silicon Valley investors, paid $30 million for the two-building Cascade Station office complex, 9500 and 9600 N.E. Cascades Parkway, near Portland International Airport. The price works out to $236 per square foot.
Trammell Crow constructed the 127,000-square-foot, LEED Gold complex during the run-up to the Great Recession. The project, in the heart of the Cascade Station retail and hotel district, is fully leased, with ITT and Wells Fargo NA as anchor tenants.