Portland real estate executives said Monday they have acquired downtown’s “Black Box” office tower for just shy of $70 million.
Melvin Mark Investors said it is partnering with real estate investor and auto executive Jeff Swickard to buy 200 S.W. Market St., a 19-story, 400,000-square-foot building adjacent to the Keller Auditorium.
The approximately $70 million total includes buying the building’s debt from a lender for $38.5 million. It also includes the cost of buying out the controlling interest of building owner John Russell, commissions, tenant improvements, as well as a renovation budget and other considerations, according to Nick Ehlen, managing partner with Melvin Mark Investors…