Portland’s iconic ‘Big Pink’ tower sold to Oregon business leader
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Portland’s iconic ‘Big Pink’ tower sold to Oregon business leader
Oregon businessman Jeff Swickard has bought the 42-story office tower in an all-cash deal. The building, which has around 1.2 million square feet of space, is the largest office property in Oregon. It was put on sale this year by a Swiss investment firm that had owned it since 2015. The sale comes as Portland continues efforts to recover from the economic and social challenges of the past few years.“This isn’t just about a building. It’s about helping Portland get its spirit back.”
Oregon businessman Jeff Swickard has bought the 42-story office tower in an all-cash deal.
Swickard, a University of Oregon graduate and founder of Swickard Automotive, owns more than 50 car dealerships across six states. Now, he’s expanding into Portland real estate in what he calls a “full-circle moment.”
“More than 25 years ago, I interviewed for a job in Big Pink,” Swickard said. “To now own it is deeply meaningful. It’s also a responsibility.”
The building, which has around 1.2 million square feet of space, is the largest office property in Oregon and a symbol of downtown Portland’s skyline. It was put on sale this year by a Swiss investment firm that had owned it since 2015. Property management will continue under Seattle-based Unico Properties.
Swickard says he plans to modernize the building and turn it into downtown Portland’s premier office space, with top-notch amenities and a “hospitality-first” approach. He also intends to offer discounted rent to businesses that are willing to invest in Portland’s downtown.
“This is the kind of optimism Portland needs,” said Mayor Keith Wilson. “We’re ready to work with Jeff to support new tenants and rebuild confidence in downtown.”
The sale comes as Portland continues efforts to recover from the economic and social challenges of the past few years. Swickard’s investment, city leaders say, is a major step toward revitalizing the downtown core.
Jon Isaacs of the Portland Metro Chamber called the project “one of the most significant reinvestments in downtown Portland office space in recent years—not just financially, but in terms of belief in the city’s future.”
This is part of a broader strategy by Swickard to invest in Portland real estate and business. His company’s commercial portfolio now includes over 2 million square feet across the western U.S.
“This isn’t just about a building,” Swickard said. “It’s about helping Portland get its spirit back.”
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Source: https://www.kptv.com/2025/07/09/portlands-iconic-big-pink-tower-sold-oregon-business-leader/