Power + Light Building sold to Gerding Edlen

Beacon Capital has sold the Power + Light Building to Gerding Edlen for $131.5 million, according to Yardi Matrix data. The seller had owned the 16-story property, also known as the Public Service Building, for more than 25 years, paying $3 million for the structure in mid-1992.

The seller had extensively renovated the property in 1999, per Yardi Matrix data, with additional updates completed in 2018. Following the improvements, the building now has an upgraded lobby and a modern amenity mix including a conference center, rooftop deck and fitness center.

For architecture and building fans, the Power + Light Building was designed by A.E. Doyle and originally named the Public Service Building, the third of three similarly Italianate buildings built in Portland by his firm. 

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Read more about the sale here. 

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