Marcus & Millichap has been selected to exclusively market for sale the Market Supply Building, an urban-infill, office and industrial property located in Portland, Oregon. The building was built in 1929 and consists of approximately 30,000 square feet of gross leasable area. The building is situated on a 0.23-acre parcel of land, which is zoned IG1 – General Industrial 1. Opportunity Zones were created as a result of the 2017 Tax Cut and Jobs Act, and they are designed to encourage private investment generally in certain areas of the country through deferral of capital gains taxes. To benefit from the program, one has to make capital improvements into an asset equal to the basis of the property less the land value and then retain ownership of that asset for up to 10 years. A large majority of Portland’s Central Business District has been designated an Opportunity Zone including the location of the Subject Property. Moreover, the Oregon tax code automatically mirrors the federal one, so Oregon is effectively offering the same Opportunity Zone discount to investors a second time on Oregon tax bills. “Oregon has the best quality Opportunity Zones of any state in the country. OZ designations were based on 2010 census data. Oregon areas ripe for economic development at that time included much of downtown Portland, the Pearl District, close-in Eastside...” - Portland Business Journal