**Unico Properties Lists Downtown Portland’s Iconic U.S. Bancorp Tower for Sale**
U.S. Bancorp Tower, more commonly known as “Big Pink,” has officially been listed for sale, according to a report by the Puget Sound Business Journal.
The towering 42-story building earned its nickname from its distinctive pink Spanish granite and pink glazed plate glass exterior. Located at the intersection where downtown Portland meets the Pearl District, the tower is owned and operated by Seattle-based Unico Properties.
JLL Capital Markets is leading the marketing efforts for the sale, with senior managing director Mark Katz and managing directors Buzz Ellis and Adam Lasoff at the helm. While JLL is highlighting the building’s iconic status and history, they also acknowledge that the property could benefit from modernization.
In its listing, JLL describes the U.S. Bancorp Tower as “a one-of-a-kind opportunity to rebrand and reimagine an irreplicable asset.” The building offers over 1.1 million square feet of rentable space and was originally constructed in 1981. It last underwent significant renovations in 2015.
The listing marks a significant move in Portland’s commercial real estate market, offering investors the chance to shape the future of one of the city’s most recognizable landmarks.
