Umpqua Bank Plaza
Encyclopedia
Umpqua Bank Plaza is a 19-story tall office tower in Downtown Portland
, Oregon
, United States. Faced with red brick, the structure is 263 feet (80.2 m) tall and has 265000 ft2 of space. Opened in 1975 at a cost of $16 million, the building was designed by Wolff, Zimmer, Gunsul, Frasca (now known as ZGF Architects). Originally named the Benjamin Franklin Plaza after tenant Benj. Franklin Savings and Loan
, the building was renamed after current tenant Umpqua Holdings Corporation
.
In 1983, RREEF Funds purchased the building for about USD$35 million. Benjamin Franklin Savings & Loan was closed by the federal government in 1990 and liquidated, but the name of the building remained. Nichiei America Corporation, a subsidiary of Nichiei Co. Ltd., purchased the building in 1990 from RREEF Funds for $34 million. In 1997, the Plaza was remodeled at a cost of $2.7 million and won Office Building of the Year from the Building Owners and Managers Association of Portland. Sportswear company Fila
opened a design office in the building in 1997.
In 1998, Spieker Properties bought the tower from Nichiei at a cost of $50 million. Spieker Properties later merged and became part of Equity Office Properties Trust. Following the attacks on the morning of September 11, 2001, the structure was one of many taller buildings to be closed to the public. The accounting firm Ernst & Young LLP opened an office in the building in 2003.
Umpqua Bank became the Plaza’s largest tenant in 2005 when it added more than 52000 square feet (4,831 m²) to its lease, where it already leased 12000 square feet (1,114.8 m²) for a bank branch and some offices. This led to the Benjamin Franklin Plaza being re-named as the Umpqua Bank Plaza on January 19, 2005. The bank’s parent company, Umpqua Holdings Corporation, houses its headquarters in the building, though the bank is still headquartered in Roseburg
in Southern Oregon
.
In March 2007, Shorenstein Properties LLC purchased the building, along with a several others in Portland, from the Blackstone Group. Blackstone had acquired the same buildings when they purchased Equity Office Properties Trust.
. The office building was the first high-rise for the firm and has a red brick exterior. These were Willamina brick incorporated into prefabricated panels, and this was the last instance of this brick being used in a Portland building.
Located at One southwest Columbia Street, it is across the street from Tom McCall Waterfront Park
and is bounded by Columbia, Jefferson, First, and Naito Parkway on the southern end of downtown. The building includes a 200 space underground parking structure and a rooftop terrace. Around the base of the tower are landscaped plazas and a gazebo. Internal numbering at the skyscraper omits the thirteenth floor.
Downtown Portland
Downtown Portland, the city center of Portland, Oregon, United States, is located on the west bank of the Willamette River. It is in the northeastern corner of the southwest section of the city and is where most of the city's high-rise buildings are found....
, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, United States. Faced with red brick, the structure is 263 feet (80.2 m) tall and has 265000 ft2 of space. Opened in 1975 at a cost of $16 million, the building was designed by Wolff, Zimmer, Gunsul, Frasca (now known as ZGF Architects). Originally named the Benjamin Franklin Plaza after tenant Benj. Franklin Savings and Loan
Benj. Franklin Savings and Loan
Benj. Franklin Savings and Loan was a thrift based in Portland, Oregon, which was seized by the United States Government in 1990. In 1996 the United States Supreme Court found that this and similar seizures were based on an unconstitutional provision of the Financial Institutions Reform, Recovery,...
, the building was renamed after current tenant Umpqua Holdings Corporation
Umpqua Holdings Corporation
Umpqua Holdings Corporation is a financial holding company based in downtown Portland, Oregon, United States. Headquarters are in the Umpqua Bank Plaza, formerly the headquarters of the Benj. Franklin Savings and Loan...
.
History
Construction began in 1974 on the 19 story structure, with plans to name it after a construction materials company that was to call it home. Construction ended in 1974 on the $16 million dollar project, but the namesake suffered economic setbacks and did not move into the building, leaving it nameless. The building opened in 1975, and Benjamin Franklin Federal Savings and Loan Association moved their headquarters to the building and were able to get the building named as the Benjamin Franklin Plaza. When Benjamin Franklin moved into the 19th floor, cast iron pieces from the demolished Ladd Building were added as the CEO was a fan of the old look. Additionally, part of the stained-glass ceiling from the old Washington Hotel was on that floor housing the executive offices of the thrift.In 1983, RREEF Funds purchased the building for about USD$35 million. Benjamin Franklin Savings & Loan was closed by the federal government in 1990 and liquidated, but the name of the building remained. Nichiei America Corporation, a subsidiary of Nichiei Co. Ltd., purchased the building in 1990 from RREEF Funds for $34 million. In 1997, the Plaza was remodeled at a cost of $2.7 million and won Office Building of the Year from the Building Owners and Managers Association of Portland. Sportswear company Fila
Fila (company)
Fila is one of the world's largest sportswear manufacturing companies. Founded in 1911 in Italy, Fila has been owned and operated from South Korea since a takeover in 2007. Headed by chairman and CEO Yoon-Soo Yoon, Fila now has offices in 11 countries worldwide....
opened a design office in the building in 1997.
In 1998, Spieker Properties bought the tower from Nichiei at a cost of $50 million. Spieker Properties later merged and became part of Equity Office Properties Trust. Following the attacks on the morning of September 11, 2001, the structure was one of many taller buildings to be closed to the public. The accounting firm Ernst & Young LLP opened an office in the building in 2003.
Umpqua Bank became the Plaza’s largest tenant in 2005 when it added more than 52000 square feet (4,831 m²) to its lease, where it already leased 12000 square feet (1,114.8 m²) for a bank branch and some offices. This led to the Benjamin Franklin Plaza being re-named as the Umpqua Bank Plaza on January 19, 2005. The bank’s parent company, Umpqua Holdings Corporation, houses its headquarters in the building, though the bank is still headquartered in Roseburg
Roseburg, Oregon
Roseburg is a city in the U.S. state of Oregon. It is the county seat of Douglas County. The population was 21,181 at the 2010 census.-History:...
in Southern Oregon
Southern Oregon
Southern Oregon is a region of the U.S. state of Oregon south of Lane County and generally west of the Cascade Range, excluding the southern Oregon Coast. Counties include Douglas, Jackson, Klamath, and Josephine. It includes the Southern Oregon American Viticultural Area, which consists of the...
.
In March 2007, Shorenstein Properties LLC purchased the building, along with a several others in Portland, from the Blackstone Group. Blackstone had acquired the same buildings when they purchased Equity Office Properties Trust.
Details
The nineteen storey, Class A office space tower has 270000 square feet (25,083.8 m²) of leasable space. Rising 263 feet, the building was designed by Robert Frasca of Portland architecture firm Zimmer Gunsul Frasca PartnershipZimmer Gunsul Frasca Partnership
ZGF Architects LLP , formerly Zimmer Gunsul Frasca Partnership, is an American architectural firm based in Portland, Oregon at twelve west. Founded in 1942, the firm was listed as one of the 10 largest architectural firms in the United States in 2002...
. The office building was the first high-rise for the firm and has a red brick exterior. These were Willamina brick incorporated into prefabricated panels, and this was the last instance of this brick being used in a Portland building.
Located at One southwest Columbia Street, it is across the street from Tom McCall Waterfront Park
Tom McCall Waterfront Park
Governor Tom McCall Waterfront Park is a park located on the west bank of the Willamette River in downtown Portland, Oregon. It is , comprising 16 tax lots owned by the City of Portland....
and is bounded by Columbia, Jefferson, First, and Naito Parkway on the southern end of downtown. The building includes a 200 space underground parking structure and a rooftop terrace. Around the base of the tower are landscaped plazas and a gazebo. Internal numbering at the skyscraper omits the thirteenth floor.
External links
- CIRE Magazine
- http://boundless.uoregon.edu/cdm4/results.php?CISORESTMP=results.php&CISOVIEWTMP=item_viewer.php&CISOMODE=thumb&CISOGRID=thumbnail,A,1;title,A,1;creato,A,0;subjec,200,0;donor,A,0;20;title,none,none,none,none&CISOBIB=title,A,1,N;descra,A,0,N;sourca,200,0,N;none,A,0,N;none,A,0,N;20;title,none,none,none,none&CISOTHUMB=20%20(4x5);title,none,none,none,none&CISOTITLE=20;title,none,none,none,none&CISOHIERA=20;descra,title,none,none,none&CISOSUPPRESS=1&CISOTYPE=link&CISOOP1=exact&CISOFIELD1=title&CISOBOX1=Benjamin+Franklin+Savings+and+Loan++Portland%2C+Oregon&c=exact&CISOROOT=/archpnwBoundless Oregon]