Central City Concern has scooped up the Old Town office building at 121 NW Everett for about $11 million, turning a onetime high-flying office asset into a nonprofit campus. The purchase will pull administrative staff, employment-services programs and the agency’s scattered fleet under one roof, and it lands right in the middle of Portland’s painful downtown office reset.
Deed records show the property was recorded as sold on April 13, 2026, for roughly $11 million, about 77% less than the $47.3 million sale recorded in 2015, as reported by The Oregonian/OregonLive. That steep drop is part of a continuing wave of discounted office sales around the city.
Back in October 2025, Central City Concern announced that a private gift from Larry and Pam Naito would allow the nonprofit to lease, and ultimately buy, a building in Old Town to consolidate services. The organization said the 121 NW Everett site would house its Employment Access Center, the Clean Start jobs program and provide secure space for vehicles and administrative teams, in a post on Central City Concern.
HMH, which completed its acquisition of NWEA in 2023, had ties to the building through the education group’s presence and has been reshaping its real-estate posture in recent years. The company outlined the 2023 acquisition in a press release from HMH.
Nonprofit Campus, Not A Luxury Office Tower
Central City Concern has said the Old Town site will let teams scattered across expiring leased spaces come together and reduce operating costs for programs that place people into employment. The move should also create a secure lot for CCC’s fleet and give supervisors and program leaders a single downtown base, the nonprofit wrote on Central City Concern.
Who’s Leaving And What The Building Will Be Called
Central City Concern plans to rename the building the Larry and Pamila Naito Recovery and Employment Center, and the seller was a publisher tied to the site through NWEA, as reported by The Oregonian/OregonLive. That reporting adds that an HMH spokesperson described the property as in “excellent condition” with a lot of amenities and said NWEA employs roughly 39 people in the Portland area, about 23 of whom no longer work out of the Everett building.
What To Watch Next
The sale converts a midtown office asset into direct services at a time when buyers and landlords are still recalibrating downtown values. Observers will be watching whether other nonprofits or developers snap up discounted office stock for social-service uses or push for conversions to housing and mixed uses.
