Cascade Energy, a consulting firm specializing in energy efficiency, has signed an 11-year lease for 10,000 square feet at the iconic Kress building in downtown Portland. Famous for its orange-accented Nike store near Pioneer Courthouse Square at Southwest Fifth Avenue and Morrison Street, Cascade Energy will occupy the entire top floor of the building as reported by Portland Business Journal.
Kidder Mathews’ Brandon O’Leary represented Downtown Development Group (DDG) while Ali Davis and Nathan Sasaki from Apex Partners represented Cascade Energy on this deal. After Metropolitan Public Defenders left in 2021 DDG demolished the interior to showcase it as a blank slate for prospective occupiers.
EJ Hoffman designed this National Historic Register property which was constructed back in 1928 with Nike’s flagship retail store occupying first two floors of it . This move comes when office vacancy rate exceeds 28% according to CBRE’s latest quarterly data .
