Local developer opens executive office suites in historic Portland building
Photo / Dylan Martin
The second and third floor of 6-8 City Center in Portland.
Four months after buying a historic downtown building in Portland, a group led by a local developer has opened a new set of executive office suites on the building’s third floor.
Drew Swenson, president of Paragon Commercial Real Estate's property management arm, told Mainebiz that the executive office suites at 6-8 City Center were developed in response to a rising demand in affordable and flexible workspace, particularly for solo practitioners or companies that have an established presence in the area and need smaller office space.
Swenson is the managing partner for Six City Center LLC. His partners in the property are Debra Napolitano, principal and founder of Paragon Commercial Real Estate; Jacque Santucci, principal at Opus Consulting; and Brian Eng, owner of Clay Cove Capital.
Swenson said he is seeking to make Six City Center’s offering stand out among the roughly 200 office and workstations in the Portland market by providing several features and services that are built into rent and the costs of getting set up. The property’s website posits that tenants can save around $43,000 in upfront capital expenditures and around $600 a month in rent.
That’s because 13 private executive offices and seven semi-private workstations are all fully furnished and have several built-in features, like a telephone system, a conference room and an Internet connection, Swenson said. And each office and workstation has several services built into monthly rent, including a receptionist, IT services, long distance phone service and a copier and scanner.
“We’re trying to help smaller practitioners be more efficient and focus more on their business efforts,” Swenson said. “We manage the executive offices at One Monument Way so we’re very familiar with the needs of small practitioners or businesses that want smaller offices.”
Swenson and his partners bought the building at 6-8 City Center for $1.4 million in February. Swenson said he estimates somewhere between $750,000 and $1 million in renovations were made on the building, which was originally constructed at the turn of the 20th century.
“We felt it was really appropriate to make a substantial investment to make it a more sustainable building,” he said of the building’s elevator and HVAC improvements.
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