JLL Capital Markets has been exclusively retained for the sale of the Lloyd SuperBlock (the “Site”), a 4.53-acre development site in the heart of Portland’s Lloyd district. It is the largest assemblage of prime real estate currently on the market within the Central City. Opportunities of this magnitude rarely become available in the City of Portland, and the potential of the Lloyd SuperBlock is unlikely to be matched.
The attractiveness of the Site is further enhanced by its locale - the Site is just blocks from one of Portland’s most influential and significant development projects, Hassalo on Eighth. Delivered in 2015, this mixed-use, high-density development creates an
18-hour neighborhood in the middle of the Lloyd District. In addition to Hassalo on Eighth, the Lloyd District is the beneficiary of several other landmark projects with the revitalization of Lloyd Center, Holladay Park, and the Hyatt Regency hotel.
The Site is well served by transit with a TriMet MAX Light Rail stop in the southwest corner. The walkable location is just blocks from some of Portland’s most respected companies who office in the Lloyd District and just a few light rail stops away from the burgeoning downtown area. A deep array of lifestyle amenities surrounds the Site, regularly drawing crowds from the Millennial generation. The net in-migration of this prime rental demographic has pushed the multifamily market to new heights, resulting in strong year-over-year rent growth and consistently low vacancy rates.
Part of the Central Commercial (CXd) zone, the Lloyd SuperBlock is available for new commercial structures up to 150 feet high with the potential for bonuses to achieve a total height of 225 feet. The Site has a base FAR of 9 with the potential for bonuses to achieve 12 FAR. The Site falls within Portland’s Central City plan district which was established for intense urban development with high coverage. The Lloyd SuperBlock is being offered on an “as-is, where-is” basis and it is understood that each prospective purchaser will proceed with an individual and unique development plan for the Site.
Buzz Ellis
JLL
