PORTLAND, Ore. (KOIN) — One of Downtown Portland’s tallest skyscrapers has been sold after a few months on the market.

Newmark has announced that an unidentified buyer purchased the PacWest building for an “undisclosed amount” on Wednesday. The real estate firm listed the 547,992-square-foot, 30-story property — the fourth-tallest in the city — in May.

In a LinkedIn post, Newmark Vice Chairman Nick Kucha revealed there were “multiple rounds of competitive bidding” for the skyscraper located at 1211 SW 5th Ave. The winning bid went to a “new-to-market capital source that closed right at the contract price,” according to Kucha.

“PacWest exemplifies resilience and opportunity in Portland’s evolving office market,” Kucha added in a statement. “With its transit-oriented location, market-lead

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