Shorenstein breaks ground on Kruse Oaks III

February 7, 2008
Portland Business Journal

It's another Class A office building for Shorenstein Properties LLC, Portland's largest landlord.

The San Francisco-based real estate investment firm has broken ground on Kruse Oaks III, a 110,000-square-foot office building at 5500 Meadows Road in Lake Oswego.

The project has two stories of parking and is designed to the U.S. Green Building Council's "gold" standards for energy and environmental sustainability.

Shorenstein acquired the Portland portfolio of Equity Office Properties Trust from Blackstone Group last year and since then has continued the building program begun by its predecessor. It also is constructing First and Main, downtown Portland's first skyscraper in a decade.

"Moving forward with the development of Kruse Oaks III further demonstrates Shorenstein's commitment to the Portland metro area," said Gregg Meyer, a Shorenstein executive.

Partners include Group MacKenzie Architects, Howard S. Wright Construction and Pacific Real Estate Partners.

The building is scheduled to open in April 2009.