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Historic Office Building Sells for Bargain Price in Downtown Portland, Oregon

Menashe Properties Buys 14-Story American Bank Building for 75% Lower Price Than Previous Sale in 2014

The American Bank Building, which opened in 1914, just sold for a near-record low of $74 per square foot. (CoStar)
The American Bank Building, which opened in 1914, just sold for a near-record low of $74 per square foot. (CoStar)

A family-run business in Portland, Oregon, snapped up the 109-year-old American Bank Building for one of the lowest per-square-foot prices for a large downtown office property on record amid rough conditions in the city’s office market.

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