Russell Development Company, Inc. purchased the 200 Market Building in late1988 from its original owners. A two-year total renovation program begun immediately and was completed by year-end 1990.
The program brought the building’s systems (heating, cooling, ventilation, electrical distribution, communications, and life safety) to state-of-the-art standards. Renovation also included asbestos abatement and complete replacement of tenant finishes.
Public areas were transformed. The Market Street frontage features a central canopy skylight entrance and a one-third acre brick pedestrian plaza. Travertine marble establish a theme for the main lobby and Oriental carpets laid over Travertine marble on some of the upper-floor tenant lobbies.
The real estate fundamentals of the building remain exceptional:
- It is large for market impact and economy of operation
- Its floor size (19,000 rsf) is ideal by current Portland standards
- Its views are exceptional in virtually all directions and from all levels
- Its parking ratio is twice that allowed by current code (and therefore has the most parking per sq. ft. of any downtown building)
- Its location is ideal for access to both the north-south and east-west freeway systems
- The two-acre site is surrounded by prominent parks
- In 2006, the 200 Market Building became the first multi-tenant building in the nation to earn Gold Certification under LEED for existing buildings. In 2010 another milestone was reached with a LEED Platinum Certification.