In 2008, LaeRoc purchased the American Bank Building located in downtown Portland. The American Bank Building is a 163,000 square feet of office space in downtown Portland. The property was over 90 percent occupied at purchase and is well located on Pioneer Square, a central location in the community.
Due to the influence of television shows like "Portlandia," "Leverage" and "Grimm," Portland has become much more familiar to people scattered all across the country. These shows tend to focus on character development, not real estate prices or city livability, but viewers are still able to see sweeping shots of the Portland skyline, and the shows seem to imply that Portland is a place where major action happens. Portland has also become a mecca of sorts for people who are young, creative and educated. People like this tend to open up their own businesses, according to LaeRoc, and when they do so, they need their own office spaces in order to complete their work. Portland has gone thru a major rejuvenation and development and this revitalization has encouraged many people, young and old, to consider moving into downtown Portland to live and or work. Well-located office space can benefit from revitalization along with the new train and public transportation infrastructure the city has put together in recent years.