Properties For Sale

at 1515 SE Water Ave Contact us

1515 SE Water Ave

Floor

1

Size

16,850 SF

Type

OFFICE

Availability

AVAILABLE, Now

Sublease

No

- River East Center is a premier creative office and retail property located on the... eastside of Portland, Oregon adjacent to the Hawthorne Bridge. Originally constructed in 1952, the abandoned warehouse property was renovated in 2006 and features sustainable stormwater systems that prevent sewer overflows into the Willamette River with a gravel channel located at the base of the building that collects water runoff. Interior finishes include sealed concrete, carpeting, and ceramic tile. River East Center is LEED Gold certified, reflecting the property’s sustainable design principles. On average, the property rents increase 3% annually and maintains a 100% occupancy rate. - 1.5/1000 parking ratio - Bike Storage - Energy Star - Showers - LEED GOLD (Core and Shell) - River and City Views - 8 EV Chargers - Excellent access to CBD, I-405, I-5 and I-84

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River East

Floor

1

Size

777 SF

Type

RETAIL

Availability

AVAILABLE, Now

Sublease

No

- River East Center is a premier creative office and retail property located on the... eastside of Portland, Oregon adjacent to the Hawthorne Bridge. Originally constructed in 1952, the abandoned warehouse property was renovated in 2006 and features sustainable stormwater systems that prevent sewer overflows into the Willamette River with a gravel channel located at the base of the building that collects water runoff. Interior finishes include sealed concrete, carpeting, and ceramic tile. River East Center is LEED Gold certified, reflecting the property’s sustainable design principles. On average, the property rents increase 3% annually and maintains a 100% occupancy rate. - 1.5/1000 parking ratio - Bike Storage - Energy Star - Showers - LEED GOLD (Core and Shell) - River and City Views - 8 EV Chargers - Excellent access to CBD, I-405, I-5 and I-84

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1515 SE Water Ave

Floor

3

Size

38,771 SF

Type

OFFICE

Availability

AVAILABLE, Now

Sublease

No

- River East Center is a premier creative office and retail property located on the... eastside of Portland, Oregon adjacent to the Hawthorne Bridge. Originally constructed in 1952, the abandoned warehouse property was renovated in 2006 and features sustainable stormwater systems that prevent sewer overflows into the Willamette River with a gravel channel located at the base of the building that collects water runoff. Interior finishes include sealed concrete, carpeting, and ceramic tile. River East Center is LEED Gold certified, reflecting the property’s sustainable design principles. On average, the property rents increase 3% annually and maintains a 100% occupancy rate. - 1.5/1000 parking ratio - Bike Storage - Energy Star - Showers - LEED GOLD (Core and Shell) - River and City Views - 8 EV Chargers - Excellent access to CBD, I-405, I-5 and I-84

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Contact us

1515 SE Water Ave

Floor

4

Size

12,812 SF

Type

OFFICE

Availability

AVAILABLE, Now

Sublease

No

- River East Center is a premier creative office and retail property located on the... eastside of Portland, Oregon adjacent to the Hawthorne Bridge. Originally constructed in 1952, the abandoned warehouse property was renovated in 2006 and features sustainable stormwater systems that prevent sewer overflows into the Willamette River with a gravel channel located at the base of the building that collects water runoff. Interior finishes include sealed concrete, carpeting, and ceramic tile. River East Center is LEED Gold certified, reflecting the property’s sustainable design principles. On average, the property rents increase 3% annually and maintains a 100% occupancy rate. - 1.5/1000 parking ratio - Bike Storage - Energy Star - Showers - LEED GOLD (Core and Shell) - River and City Views - 8 EV Chargers - Excellent access to CBD, I-405, I-5 and I-84

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Contact us

Listing Agency: Lincoln Property Company | Portland b***@jll.com Show Phone

Listed By: Lee Morrison · License #930100005

Source: Moodyscre

Added: Jul 22, 2025 Changed: Aug 8 Last Checked: Aug 29 at 10:35AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lincoln Property Company | Portland

Investment Insights

Based on property information with market context.

River East Center is a four-story, Class B office building located in Portland’s Close-In Eastside Submarket. The building, which is LEED Gold certified, offers 99,999 rentable square feet. Situated on 3.63 acres, the property was renovated in 2006 and features floor plates measuring approximately 37,000 square feet on the first and third floors. The building also includes flexible mezzanine space suitable for single or multi-tenant use, open layouts, generous window lines, abundant natural light, and river views. There are 176 parking stalls available. The property has served as the headquarters for Mackenzie Engineering since 2007. It is located near restaurants, cafes, and clubs.

Key Highlights

• LEED Gold certified, four‑story Class B building with 99,999 rentable square feet.
• Benefit from 176 parking stalls, a highly coveted amenity within the Urban Core.
• Located in Portland’s dynamic Close‑In Eastside Submarket, near trendy restaurants, cafes, and clubs.

Property Analytics

Property Profile

Current Use

Viewpoint (Bike/Boat/Book/etc) Store Wasabi Paddling Club Boat Club RiverEast Center Rowing Club Mackenzie Architect Coaxis Inc (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Grooming Service Tanning Salon Veterinary Clinic Mobile Phone Store Supermarket

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,927

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Portland, OR

10.1% 2019

12.3% 2020

16.1% 2021

18.5% 2022

20.8% 2023

21.7% 2024

24.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Four-story Class B office building in Portland's Eastside Submarket.

Where is this office building located?

The property is located at 1515 SE Water Ave Portland, OR.

What are key features of this property?

This property features: LEED Gold certified, four‑story Class B building with 99,999 rentable square feet.; Benefit from **176 parking stalls**, a highly coveted amenity within the Urban Core.; Located in Portland’s dynamic Close‑In Eastside Submarket, near trendy restaurants, cafes, and clubs.