Whether you’re driving down Interstate 5 or eating a decadent Voodoo Doughnut blocks away, spotting it as the backdrop to the Made in Oregon sign, the U.S. Bancorp Tower, aka “Big Pink,” is a Portland icon.

Now, it’s up for sale.

The 42-story building, 111 S.W. Fifth Ave., is Oregon’s largest office building, dubbed the “tallest and pinkest building in Portland, OR,” per its Instagram account.

U.S. Bank announced its departure from the space in early September 2024, confirming it would let its lease expire in a move to “manage” its real estate, as first reported by the Tribune at the time.

A U.S. Bank spokesperson told KOIN 6 News via email that there wouldn’t be any job cuts related to the move. Instead, some employees would move to other facilities downtown and several hundred would move out of downtown. Many of the employees were moved to a facility the company owns in Gresham.

The 42-story building was built in 1983 and later renovated in 2015. The building offers nearly 1.1 million square feet of office space.

“Portland will never see another building like U.S. Bancorp Tower, considering the asset’s extraordinary scale and the complete absence of new development planned in the urban core for the foreseeable future,” Jones Lang LaSalle Americas, Inc., the real estate company, wrote in an asset description.

It was originally developed by Skidmore, Owings & Merrill as U.S. Bank’s headquarters. The architectural firm is also known for designing Portland’s Memorial Coliseum, the New World Trade Center in New York City and the Sears Tower in Chicago.

Architect Pietro Belluschi, along with the architectural company, designed the space. Belluschi hand-picked building materials, including pink Spanish granite and pink glazed plate glass, giving it its famous pink hue.

KOIN 6 News is a media partner of the Portland Tribune and contributed to this report.