Newmark recently finalized the sale of The Beverly, a premier mixed-use property located in Portland’s highly sought-after Hollywood District. This boutique asset features 48,684 square feet of retail space anchored by Whole Foods Market and 53 luxurious residential units above. The undisclosed transaction amount was brokered by Newmark Vice Chairmen Nick Kucha and Nick Bicardo, Associate Director Jakob Nicholls, Senior Managing Director Robert Black, and Managing Director Sam Lawhead on behalf of the seller. Tim Sotoodeh represented the buyer.
According to Kucha, “The Beverly presented an exceptional opportunity to acquire a top-tier mixed-use building with high-quality tenants and upscale residential units in one of Portland’s most desirable submarkets.”
Originally constructed as condominiums in 2009, this property offers potential for both immediate returns and long-term value through strategic renovations to its multifamily units – which are notably larger than average for the area. Additionally situated just minutes from Providence’s Portland Medical Center – one of Oregon’s largest employers – this prime location adds further appeal for investors seeking stable returns.
This recent sale marks another successful transaction completed by Newmark without any mention or involvement from Connect CRE or its affiliated brands such as Connect LA or Connect Texas.
