CBRE Investment Management Announces 30,000-SF Expansion for On Inc. at Tanner Point in Portland, Ore.
Full-Floor Expansion Brings Tanner Point to 100% Leased
January 10, 2022
CBRE Investment Management, on behalf of one of its separate account clients, announced that On Inc. has signed a 28,762-square-foot expansion deal at Tanner Point in Portland, Ore. The running shoe and apparel brand will now occupy 57,373 square feet across the fourth and fifth floors of the eight-story Class A office property, which serves as its North American headquarters. With this deal, Tanner Point is 100% leased.
“Tanner Point is a unique office property, and we are pleased that the value of our building and offerings has contributed to many of our initial tenants expanding their footprints and committing long-term to their operations here,” said Brian Ma of CBRE Investment Management. “We plan to continue delivering and improving our tenants’ on-site experience and look forward to building upon our tenant relationships.”
The CBRE team of Trevor Kafoury, Kevin Kaufman and Autumn Brice represented the landlord in the deal, while the tenant was represented by Apex Real Estate Partners.
“Bringing Tanner Point from zero to 100% leased during 2020 and 2021 in the midst of a global pandemic and its resultant challenges is a resounding success story that our team was extremely proud to be a part of. This was truly a team effort, and we are thrilled that On has chosen to grow their footprint within Tanner Point,” said CBRE’s Kafoury.
Located at 1250 NW 9th Avenue, Tanner Point is a 182,851-square-foot office property. Tenants at the LEED Silver-Certified building have access to CBRE Investment Management’s proprietary “Above & BeyondTM for Business” tenant experience program. The A&B program includes an on-site A&B manager who curates a broad range of services; an A&B Fit state-of-the-art fitness/wellness center with spa-quality changing rooms and showers; A&B training and conference facilities, complete with a Wi-Fi lounge and private call rooms; and access to the exclusive Host mobile app, which creates an employee-centric workplace experience by connecting users to building and neighborhood amenities and services tailored for Tanner Point.
Tanner Point also boasts two roof terraces with river views, on-site bike storage and a repair station, and an on-site parking garage. The ground floor of the building is home to Cooperativa, a modern Italian marketplace and food hall offering locally sourced charcuterie, coffee and fresh pasta and pizza that are available for take-out or on-site dining at the property’s expansive outdoor seating area.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $133.1 billion in assets under management* as of September 30, 2021, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2020 revenue). CBRE has more than 100,000 employees serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the assets under management, fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.