U.S. Bancorp Tower
U.S. Bancorp Tower | |
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Howard S. Wright Construction | |
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The U.S. Bancorp Tower (also known as Big Pink) is a 42-story, 163.38 m (536.0 ft) skyscraper in Portland, Oregon. It is the second tallest building in the city after Wells Fargo Center, and with its nearly 69,000 m2 (740,000 sq ft) office space, it is the largest in Oregon in terms of volume.[7]
History
Designed by
Originally, the building served as the national headquarters of U.S. Bancorp, and was the regional headquarters of that organization until a 1997 merger moved the corporate offices to Minneapolis, Minnesota. As of 2004, U.S. Bancorp had 480,000 sq ft (45,000 m2) leased until 2015.[11]
During the 1980s and 1990s, the top floors held the headquarters of Louisiana-Pacific.
Since a $4 million renovation in 2002, the 30th floor of the tower has been occupied by the Portland City Grill, Portland's top-grossing restaurant.[12] It has been cited as the restaurant with the best view in Portland.[13]
In 2000, the U.S. Bancorp Tower was sold for a price of $165 million[citation needed] to a partnership of three firms: Unico Properties, JPMorgan and Wafra Investment Advisory Group.[14] In 2004, a majority stake in the tower was acquired by California-based Broadreach Capital Partners LLC, which bought-out JPMorgan and Wafra,[14] but Unico continued to own 25 percent.[11] At that time, 92 percent of the building was leased.[11][14]
In August 2006, a majority stake in the building was purchased by "institutional investors advised by JPMorgan Asset Management"[15] for a price of $286 million.[16]
In 2008 LaSalle Investment Management purchased a majority stake in the building from Unico Properties; the building had an estimated value of $285 million at the time. LaSalle sold their stake in 2015, to TPF Equity REIT that is majority-owned by UBS.[17] Unico Properties retains a minority share in the building.[18] The sale price was $372.5 million, a record for any office building in the Portland area.[17]
Design
Perhaps the most unusual features of the U.S. Bancorp Tower are its shape and color. Pietro Belluschi was most concerned about the play of light and shadows on its surface; meanwhile, the SOM team had to work with a uniquely shaped lot due to the
In October 2019, the building achieved the
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Northeast facing view of Big Pink from Burnside
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Daytime view on a cloudy day
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The U.S. Bancorp Tower with Mount Hood in the background
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U.S. Bancorp Tower, looking south
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An aerial view of the U.S. Bancorp tower, August 2016
See also
References
- ^ a b Brennan, Tom (May 30, 1981). "U.S. Bancorp begins 'staggering' tower". The Oregonian, p. C7.
- ^ a b Sorenson, Donald J. (December 2, 1983). "Regan sidesteps Feldstein issue at bank dedication". The Oregonian. p. E1.
- ^ "U.S. Bancorp Tower". CTBUH Skyscraper Center.
- ^ a b "Emporis building ID 122608". Emporis. Archived from the original on March 24, 2016.
- ^ "U.S. Bancorp Tower". SkyscraperPage.
- ^ U.S. Bancorp Tower at Structurae
- ^ Jenkins, Tam (October 1, 2013). "List Leaders: Portland's largest office buildings". Portland Business Journal. Retrieved November 7, 2013.
- ^ Cour, Brian (July 24, 1986). "PacifiCorp units lease 2 floors in bank tower". The Oregonian, p. F13.
- ^ a b "New office buildings take place on downtown skyline, boost economy". (March 24, 1975). The Oregonian, p. G2.
- ^ a b c Hayakawa, Alan R. (November 27, 1983). "Pink granite, reflective glass triumph of design for bank tower". The Oregonian. Living section, p. 14.
- ^ a b c Curl, Aimee (September 10, 2004). "Broadreach Capital Partners buys U.S. Bancorp Tower". The Daily Journal of Commerce. Retrieved October 20, 2013.
- ^ "Portland City Grill among nation's top-grossing restaurants". Portland Business Journal. May 11, 2004. Retrieved December 12, 2012.
- ^ Mark Wigginton (May 2, 2003). "Where to eat in Portland". USA Today. Retrieved December 12, 2012.
- ^ Portland Business Journal. Retrieved October 20, 2013.
- ^ Culverwell, Wendy (May 4, 2008). "U.S. Bank [sic] Tower could fetch $340M sale price". The Portland Business Journal. Retrieved October 20, 2013.
- ^ Rivera, Dylan (July 24, 2007). "Brewery Blocks sell at a premium". The Oregonian. Retrieved October 20, 2013.
- ^ a b Hammill, Luke (October 22, 2015). "Big Pink building's sale price was a record-breaker". The Oregonian/OregonLive. Retrieved October 3, 2015.
- ^ Bell, Jon (August 26, 2015). "Breaking: 'Big Pink' sold in latest massive Portland real estate deal". Portland Business Journal. Retrieved August 26, 2015.
- ^ Njus, Elliot (October 16, 2019). "Portland's 'Big Pink' now certified as green with LEED Platinum status". The Oregonian. Retrieved October 21, 2019.