7545 NE AMBASSADOR PORTLAND OR 97220
7545 NE Ambassador Place was a build to suit for the Department of Defense and MEPS in 2002. It is consider a Class A suburban office building and has been professionally maintained throughout its ownership with multiple upgrades. It is located directly next to the FBI building, Portland International Airport, Embassy Suites, and Cascade Station.
MEPS is located in highly desirable Airport sub-market, a premier business area in Portland metro. The property is within one and a half mile of the I-205 interchange 5 miles from I-5, directly next to the Portland International Airport (PDX). The location is key to any business needing access transportation of any kind, providing a strong prospective tenant pool.
LOW VACANCY AND STRONG SUB-MARKET
The sub-market is the 5th strongest office market in all of Portland and Vancouver with a Class B vacancy of 1.2%, outperforming Portland metros average vacancy of 6.7%.
STABILIZED ASSET WITH CREDIT TENANT
Currently 100% leased, the property provides a solid income stream for the investor looking for low management, and federally backed credit. The tenant has a renewed their lease multiple time and have recently signed a new 10-year lease.
LACK OF COMPETITION
There is little competitive space in the area that provides the quality, size, and function that 7545 Ambassador Place does for MEPS. There is also a lack of available sites for development of new competition. MEPS is required to be near a major airport and hotels and given the specialized improvements they have, there are no other buildings that would meet their needs.
For more info and to request for full financials and offering memorandum, contact Commercial Northwest.