(Oregonian (Portland, OR) Via Acquire Media NewsEdge) Jan. 24--Jama Software, a rapidly growing business software company, plans to move next fall from its offices in Portland's Pearl District to two floors of a remodeled downtown office building.
The seven-year-old company, which raised $13 million last summer in its first round of venture capital, has more than 100 employees -- nearly all of them in Portland. It had already outgrown its Pearl District headquarters and opened a satellite office nearby last fall.
Beginning in December, Jama will occupy 35,000 square feet in the former Bally's Total Fitness site at Southwest Second and Taylor in downtown Portland. The new offices, undergoing a $10 million remodel, have room for further expansion.
Jama's software helps industrial and technical companies manage complex projects, coordinating design work across an organization with tools derived from social media.
Portland's downtown landlords have been steadily converting office space designed for professional services firms -- attorneys, accountants and the like -- and repurposing it for the city's fast-growing tech startups. Many of the young startups have outgrown the Pearl District offices that spawned them and are seeking bigger quarters elsewhere in the city.
Meanwhile, large out-of-town companies, including San Francisco startup New Relic and online marketplace eBay, have opened big offices downtown. Another California startup, Airbnb, has been searching for Portland offices and -- judging by its online job postings -- appears ready to base its North American customer service offices here.
Jama's new home is owned by a real estate investor called B13 Investors; Melvin Mark Development Co. is developing the project.
Peter Andrews and Nick Ehlen of the Melvin Mark Brokerage Co., represented the landlord in the deal. Niall Travers, Eric Turner and Craig Reinhart of Cresa represented Jama.
-- Mike Rogoway
-- Mike Rogoway; twitter: @rogoway; phone: 503-294-7699
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