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Portland's Galleria expected to draw big buyer

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Thursday, May 10, 2012

Portland's Galleria building is for sale, and expected to attract a big-time buyer after landing a long-term lease with Target.

A summary of the confidential offering says there is no asking price, but that a buyer should pay in cash. It says the Galleria is valued "substantially below" the $84 million it would cost to replace the building. 
It touts the Target lease, which brings the building's occupancy to 99 percent. Other tenants include a Brooks Brothers store and Career Education Corp., a for-profit higher education company that operates Le Cordon Bleu culinary school and Sanford-Brown College.

Read more at OregonLive.com.

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