The Ashforth Company is pleased to announce the acquisition of ODS Tower.

Ashforth, a 109 year old Stamford, Connecticut based commercial real estate owner, investor and developer, has expanded its presence in the Portland market by purchasing ODS Tower with a client managed by GE Asset Management. ODS Tower, located at 601 SW Second Avenue, is a 24-story, 400,000 square foot office building located in the heart of Portland’s Central Business District. The building was completed in 1999.

The Ashforth Company owns and manages nearly 2.1 million square feet of office space in Portland’s Lloyd District and 9.0 million nationwide. Ashforth’s West Coast affiliate, Ashforth Pacific, Inc, is headquartered in Portland and oversees this portfolio which includes Lloyd Center Tower, Liberty Centre, Lloyd 700 Building, and Oregon Square as well as several development sites. Ashforth Pacific is an investor and developer of office and industrial real estate and provides property, parking and construction management services.

Scott Langley, President of Ashforth Pacific said, “We believe the purchase of ODS Tower provides an outstanding complement to our West Coast investment portfolio. Our expansion within the Central City from the Lloyd District to the Central Business District confirms how strongly we believe in Portland.” “ODS Tower, which is home to the corporate headquarters of The ODS Companies, is a high-quality headquarters building with superb tenants,” added Langley.

Currently, ODS Tower is 99% occupied, with The ODS Companies as its anchor tenant. Other significant tenants include: Nordstrom, Lane Powell, Barran Liebman, Mulvanny G2 Architects, and the US Government. ODS Tower is located adjacent to Portland’s Lightrail line and is within walking distance of upscale retail, dining and hotel services. In addition to Class A office space and a 385-space parking garage, the building also offers ground floor retail amenities including a coffee kiosk, lockers, high-end shopping, a children’s daycare facility and indoor bike storage.

“We view our relationship with the tenants in the buildings we own and manage as a partnership and consider them our clients. We provide the highest level of service to support the businesses that operate in our buildings,” said Wade Lange, Vice President of Property Management, Ashforth Pacific.

Ashforth’s investment strategy is to acquire quality assets in markets with good long-term fundamentals, and to enhance value through the company’s operating expertise. Ashforth has investment interests in locations throughout the country.