URG repurposes a Portland classic

Constructed in 1911, and the tallest building in Oregon when it was completed, the 126,000-square-foot Yeon Building was 50% vacant, with a significant amount of deferred maintenance, when we began our renovation program on the property in 2012. The historic building received a new storefront system, a renovated main lobby, new bike parking, shower and locker facilities and a completely upgraded MEP system as part of the repositioning program.

The result was a class A historic office property with high ceilings, operable windows and an 8,400-square-foot floor plate, ideally suited to the active tenants in the Portland market. It quickly became the home of some of the city’s most respected technology, engineering and creative firms. Rents at the building have more than doubled since the renovation began.

We provide the property with class A property management services and a program of selective capital improvements, including conversion of traditional tenant suites into open creative spaces. Our work on the Yeon Building became the catalyst for the class A historic product offering and inspired a variety of subsequent historic renovation projects in the market.