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MBank signs its top-floor tenant
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PORTLAND, Ore. - After an extensive search, MBank has recruited a tenant for the top floor of its prominent Stark Street building overlooking TriMet’s new I-205 Light Rail Project.
Later this month, Hanna Realty, a residential and commercial agency, will relocate its headquarters to the penthouse office from its current Foster Road location of over 75 years. Hanna Realty has been a driving force behind many notable redevelopments including the Montavilla, Westmoreland, and Woodstock business districts.
Hanna Realty’s deep rooted relationship in the community dates back to Donald Hanna Sr. who was a partner of the original real estate company established in 1933. In the 1960’s and 1970’s Hanna Realty was a premier residential real estate firm in Portland. In the late 1980’s Donald Hanna Jr. redirected the company focus to primarily commercial real estate. The agency will relocate under the name Hanna Network as it expands its industry reach to include property management and additional residential services.
In moving the agency to the Stark Street Building, Hanna expects to gain more visibility for the company and build upon its deep local roots.
“We were looking for a space that made a landmark statement,” he said. “The bold and beautiful design of the building and its exceptional location make it the premier place to be on the East side of Portland.”
Hanna Realty has signed a 3 year lease agreement for 3,395 square feet of space which accounts for the entire top floor of the building.
Constructed in 2002, the building, located at 9415 Southeast Stark Street, is part of MBank’s five-branch network of community bank offices. The building includes almost 9,000 square feet of office and retail space, of which, MBank occupies over 5,000 for its banking and investment operations.
The current tenant, Fenton, Wangler Financial, MBank’s subsidiary investment firm, will vacate the space as part of a consolidated move to other bank-owned property at 3636 NE Broadway in Portland’s historic Hollywood district.
The penthouse office space provides abundant natural light through its large windows as well as spacious views of Mount Hood, Mount St. Helens and the I-205/I-84 corridor, but the layout prohibits subdividing the floor for smaller tenants.
“That space is like Cinderella’s slipper,” said MBank Chief Operating Officer and cofounder Ron Shoemake. “It had to fit just the right tenant - someone who wanted something that was not the plain old office but something more unique and charismatic. But they had to be just the right size. A handful of potential tenants that looked at the space were either not big enough or too big.”
Hanna has also been tapped as the listing agent for lease space available on the second floor of the building.
About Merchants Bancorp
Founded in 1995, Merchants Bancorp is the financial holding company for MBank, an equal housing lender, FDIC member institution, headquartered in Gresham, Ore. MBank has branches in Gresham, Gladstone, Lake Grove and in Portland at 9415 SE Stark Street and in the historic Hollywood district at the corner of NE 36th and Broadway. MBank works with customers to advance their visions for success by providing innovative products that address the day to day demands business owners face. MBank is rooted in the community and promotes sustainable partnerships with customers and neighbors. For more information, call 503.661.8688 or visit www.mbankonline.com |
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