Specht 306 LLC, an affiliate of Specht Development, Inc., purchased the Nu-Way Printing building in September 2014 as an investment. The existing tenant at the time, Nu-Way Printing, occupied the first floor. Building improvements were completed in 2015 to allow creative office use on the 2^nd floor.

The building was originally constructed in 1946 on the 19,090 sf lot in SE Portland. There is significant new development and redevelopment of other existing buildings taking place in the immediate area, including residential, retail and office space. The building was sold in 2021.