400 SW Sixth Avenue LLC (et al) sold 400 SW 6th Ave. in Portland for $30.25 million, about $148 per square foot. 400 Sixth Avenue LLC (et al) purchased the 204,848-square-foot, 11-story office building, which is in the heart of the transit mall. At the time of sale, the cap rate was 8.83% with an NOI of $2.67 million. The acquisition was the buyer's up leg in a 1031 exchange.