The former Old Town headquarters of Portland-based education research group NWEA sold for its lowest value ever and 77% less than its last trade in 2015, extending a trend of lowball office sales amid a price reset for downtown.
HMH, the Boston-based textbook publisher that acquired NWEA in 2023, sold the Everett Building to social services nonprofit Central City Concern for $11 million. Central City Concern said it has renamed the building at 121 N.W. Everett St. the Larry and Pamila Naito Recovery and Employment Center for the donors who helped fund the acquisition.
“We felt it critical to maintain our roots in Old Town, so when the opportunity presented itself with this building, we took it,” Laura Recko, a spokesperson for the nonprofit, said in an email. “The building is in excellent condition and contains a lot of amenities.”…