TEI and Felton Props. sell Spalding Building in Portland, Oreg. - $12.5m

N.Y.-based Time Equities, Inc. (TEI) and the Felton Properties, Inc. sold the Spalding Building, a 92,511 s/f office building located in the downtown area for $12.5 million. The Spalding Building, formerly the Oregon Bank Building, is located at 319 S.W. Washington St. The 12-story property was designed by architect Cass Gilbert. Matthew Felton represented the seller, which was purchased by an active real estate owner in the Pacific northwest.