Investment Overview

Marcus and Millichap is proud to present The Bridges Building, a multitenant office investment property in Downtown Salem, Oregon. The offering provides investors with a well-managed quality building boasting a long history of high occupancy and tenant loyalty, along with a highly visible and intrinsically valuable site. The building sits on a large 1.26 acre lot with 330 feet of frontage on Commercial Street. The Bridges Building is home to a diverse set of tenants, the majority of which are subject to annual rent increases and pro-rata expense reimbursements. The Oregon State Marine Board is the most prominent tenant in the building and has a lease extending through 2029, having begun their tenancy in 1999. The Bridges Building sits at an incredibly visible and well-traveled portion of the city, with traffic counts in excess of 35,000 vehicles per day traveling on each of the site’s three adjacent roadways. True to its name, The Bridges sits at the base of the Marion Street Bridge and the Center Street Bridge. Together, these bridges provide the city its only road access to the west side of the Willamette River, connecting Salem proper with West Salem. The nearest roadway bridges are 10 and 22 miles from Downtown Salem, highlighting the continued relevance of this location. The building benefits from its close proximity to downtown amenities, State of Oregon administrative facilities, Willamette University, and new and exciting development projects near the Salem Center Mall, including the Rivenwood Apartments, a newly constructed 157-unit apartment complex located a block to the east of The Bridges Building.