Kensington Investment Group, LLC has added over 55,000 square feet to its Portland portfolio with the purchase of the Fiserv building located at 4550 SW Macadam Avenue in John's Landing. Kensington purchased the property for $12.25 Million from 4550 Macadam Partners LLC. Kensington worked with Robert Niehaus of Niehaus Properties, Inc. and Dale W. Bernards of Canterbury Commercial LLC on the deal.
The two story building is situated on 2.87 acres, includes 130 surface parking stalls and is located about half a mile from the new South Waterfront/SW Moody light rail station. Fiserv, Inc., the sole tenant, has occupied the building since 1995.
According to their website, “Fiserv, Inc. is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization.” Fiserv has 148 locations worldwide, with three offices in the state of Oregon located in Corvallis, Hillsboro, and Portland. The company recorded $5.1 billion in revenue in 2014 with over 13,000 clients and has over 21,000 employees nationwide with a headquarters located in Brookfield, Wisconsin.
The buyer, Kensington Investment Group, LLC recently acquired Laika Studio’s office building in Portland’s Slabtown neighborhood for $8.65 Million. Brad Anderson, President of Kensington Investment Group stated that “The Fiserv Building is a key addition to our expanding west coast real estate portfolio. The South Waterfront is robust with both history and new opportunities, public transportation options and easy freeway access. We are excited about the future of the neighborhood.”
Kensington Investment Group, LLC is a family run real estate investment company with offices in Sherwood, Oregon and San Francisco, California. The company owns a portfolio of hotels, retail centers, office buildings and mixed use properties and is working in the Portland area to find quality real estate that can be improved through hands-on management or redevelopment. For more information, visit http://www.kensingtoninvest.com/.