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January 03, 2018

Broadway Tower lands another tenant for two upper floors

Portland Business Journal

Jon Bell

One of downtown's most prominent new office projects continues to fill up long before its expected completion.

Broadway Tower, the 19-story hotel and office combo at the corner of Southwest Columbia and Broadway has leased its top two floors to the law firm Markowitz Herbold PC. The local firm will vacate its current space in the PacWest Tower and move into Broadway Tower in the summer of 2019.

The new tower, which will also be home to a Radisson RED hotel, is expected to be largely complete by Oct. 1, 2018.

"We are pleased to have one of the top law firms in Oregon relocate into the building, joining tenants that value the location, first class office environment and time savings and convenience of on-site amenities," said Walter Bowen, CEO of BPM Real Estate Group, the developer of Broadway Tower., in a release. "We have tremendous interest in the office component and are down to our last three full floors. We expect to announce several additional office tenant leases during the first half of 2018 and expect to be near full occupancy upon completion of construction."

The only other office tenant disclosed thus far is Lawyers Title, which will take 10,069 square feet on the 14th floor of the building.

Markowitz Herbold has signed a lease for 19,424 square feet and several decks located on the top two floors of the tower.

"With the relocation to Broadway Tower, we will be able to customize our space to our unique needs allowing us to better serve our growing client roster," said Chad Colton, Markowitz Herbold shareholder, in the release.

In addition to the office and hotel components, Broadway Tower will also include 247 underground parking spaces, as well as outdoor patios on floors 17-19. The hotel is expected to open in the fourth quarter of 2018.

Kevin Joshi, a senior vice president and partner with Kidder Mathews, is handling the office leasing for the project. He also tended to the leasing for Pearl West, another new office project from BPM, which sold this summer for $87.5 million.

For the full story, go to Portland Business Journal.

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