Commerce Plaza

Investment Overview

Introducing an exceptional opportunity for redevelopment of an existing two-story office complex into multifamily in the Tigard Triangle. This impressive property boasts three two-story buildings totaling approximately 80,770 SF with 70 office suites, and 316 surface parking spaces. Zoned "Triangle Mixed Use (TMU)," the property offers versatility and potential for diverse usage, currently at 90% occupancy with short-term leases, and the ability to maintain cash flow while redeveloping the property in phases. The structures lend themselves well to multifamily redevelopment by virtue of the building widths, central courtyards, wood framing, and existing infrastructure. There is excess land area that could accommodate an additional building and still have ample parking ratios. Its strategic location further enhances its appeal, positioning it as a prime asset for investors seeking a lucrative addition to their portfolio. This sought-after property represents a compelling investment opportunity in the thriving Southwest Portland market.

Investment Highlights

• Three separate buildings totaling 80,770 SF
• 70 existing office suites
• 316 existing surface parking spaces
• Zoned Triangle Mixed Use (TMU)
• Easy conversion to multifamily
• 10' ceiling heights
• 87% occupancy, short term leases
• +/- $700,000 NOI in 2025