Wells Fargo sells downtown Portland tower, the tallest building in Oregon
Wells Fargo announced this week that it plans to sell its 40-story office tower in Portland, and will relocate to Hillsboro, where the banking giant plance to open a major call center employing up to 900 people.
On Tuesday, the world's second-largest bank announced that it's iconic downtown building, the Wells Fargo Center, had been sold to East Coast private investment firm Starwood Capital Group, which owns real estate around the world.
Terms of the deal were not disclosed, but the company announced that the sale included not only the tower, but a smaller five-story operations building nearby.
The Wells Fargo Center has been the tallest building in Oregon since it opened in 1972.
According to the company, Wells Fargo plans to shift many of it's Portland employees to a new Hillsboro call center at 23175 N.W. Bennett St.
"I know they want to start hiring late next year and start moving people in next summer from existing sites," Wells Fargo spokesperson Tom Unger told the Tribune on Tuesday. "Then, they'll start filling up the rest of the space with new workers."
About half of the 900 workers expected at the new Hillsboro center will be new hires, Unger said.
Wells Fargo currently operates a large call center in Beaverton, the largest Wells Fargo center in the Pacific Northwest. The Beaverton center employs around 1,500 workers, some of which would move to Hillsboro, Unger said.
Wells Fargo takes over the lease of the building, currently held by Farmers Insurance, on Jan. 1, 2018.
Unger did not disclose the terms of the Hillsboro lease, but said Wells Fargo plans to be located in the city "long term."
"This is great news for Washington County," he said. "We're excited about it. We'll be expanding our employee base there by a large number."