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Archive for the ‘Forecast’ Category

Industrial Development Increases in Sunset Corridor

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Oregon ranks #1 among the states when it comes to the portion of the GDP which can be attributed to manufacturing. Oregon’s manufacturing, specifically durable goods, continues to be a strong contributor to our economy. Durable good manufacturing is very cyclical and jobs are directly tied to overall output. This will bode well for Oregon’s employment as production continues to accelerate.  A trend of expanding and bringing manufacturing back into the states, “reshoring”, has recently been seen in Portland by the likes of Oracle and Shimadzu.

OR GDP is 29% manufacturing

OR GDP is 29% manufacturing

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Oregon ranked #2 for inbound residential migration, just behind Washington D.C.  One might consider D.C. a bit of a salad spinner given the primary employment is government and that rotates frequently.  New Portland residents are moving from:

1. California

2. Texas

3. Arizona

4. Illinois

5. New York

COW_Portland_February 21_

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The Skyline market for Portland, Oregon is defined as the major market movers, or those assets that have a significant impact due to their size, quality of space or iconic status. Averaging 430,000 square feet, all buildings included offer Class A space and are situated in the most prominent, highly desired locations. Among the key indicators for inclusion or exclusion in this set are rent levels and/or value levels. The current threshold requires that buildings consistenly garner rents greater than $25.00/RSF full service gross and achieve the highest sales prices in the Portland market (generally in excess of $300/RSF). Due to the increasingly competitive Portland, Oregon office market, the scale for rents and sale prices will fluctuate from time to time and buildings will be added and removed from this segment of the market.

Jones Lang LaSalle (NYSE:JLL)

Portland_Skyline_Winter_2012

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GeneralBizDex (consulting|finance|insurance|legal|other)

Central Business District

Thompson Kessler Wiest – Columbia Square | 111 SW Columbia St | 7,537 RSF

Davis Wright Tremaine – Wells Fargo Center | 1300 SW Fifth Ave | 59,048 RSF renewal/downsize

SKB – Ziba HQ Building | 1044 NW 9th Ave | 8,954 RSF

Vancouver

The Logs Group – One Tech Center | 1499 NE Tech Center Dr | 3,677 RSF

Suburban Propane – One Tech Center | 1499 NE Tech Center Dr | 2,617 RSF

Berendsen Fluid Power – 7200 NE 41st St | 1,980 RSF

Westside

RMT International – Kruse Woods II | 5335 Meadows Rd | 3,843 RSF

GovDex (government agencies)

Vancouver

Clark County Prosecuters Office – 800 Franklin St | 6,000 RSF

TechDex (apps|provider|hardware|var)

Central Business District

ELC Technologies – Marine Building | 1771 NW Quimby Ave | 4,400 RSF

Jama Software – Ziba HQ Building | 1044 NW 9th Ave | 12,513 RSF

Eastside

Roku – Olympic Mills | 107 SE Washington St | 1,696 RSF

Westside

FEI – 5665 B NW Wagon Way | 21,000 RSF

Sirius Computer – Kruse Woods V | 5885 Meadows Rd | 9,115 RSF

SustainDex (environmental|sustainable|clean/bio tech)

Vancouver

Hancock Forest Management – Columbia Tech Center | Building 217 | 6,899 RSF renewal

HealthDex (hospital/provider|managed care|equipment)

Westside

Pacific Imaging – Westridge Park | 5201 SW Westgate Dr | 1,000 RSF

SALES

Buyer: Morrison Child and Family Services

Seller: Verizon Business Services

Address: 11035 NE Sandy Blvd, Portland, OR

Size: 22,400 RSF

Price: $1,000,000 or $44.64/RSF

 

Buyer: Teufel Brothers Enterprises

Seller: LB/VCC OR-Hillsboro

Address: 3401 NW John Olsen Rd, Hillsboro, OR

Size: 16,854 RSF

Price: $1,516,860 or $90.00/RSF

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MediaDex (traditional|digital|research)

Central Business District

ROC Group – Morgan Building | 720 SW Washington St | 1,357 RSF

GeneralBizDex (consulting|finance|insurance|legal|other)

Central Business District

Stephen Vincent Jewelers – Fifth Avenue Building | 1400 SW Fifth Ave | 5,787 RSF

Vancouver

Clark CountyProsecuting Attorneys, Child Support – Franklin Building | 800 Franklin St | 6,000 RSF

Ray Krueger – East 18th Street Biz Pk | 5601 E 18th St | 2,400 RSF

Westside

Cleland Woolworth Capital – Kruse Way | 5800 Meadows Rd | 3,313 RSF renewal

AMS Legal PC – Kruse Woods II | 5005 Meadows Rd | 2,827 RSF

Premier Property Group – Kruse Way | 5000 Meadows Rd | 2,801 RSF

Riverside Homes – Tanasbourne Commons | 17933 NW Evergreen Pkwy | 3,571 RSF

NonProfDex (charitable|educational|trade assoc)

Westside

Northwest College – 4200 SW Watson and 4225 SW Hall St | 13,400 RSF

Encore Performing Arts Center – Parkside Biz Ctr | 7700-7704 SW Nimbus Ave | 3,745 RSF

Central Business District

Disability Rights Oregon – 610 SW Broadway St | 6,767 RSF

HealthDex (hospital/provider|managed care|equipment)

Westside

Metropolitan Pediatrics – Commons Building/Cornell Oaks | 15455 NW Greenbrier Pkwy | 17,439 RSF

Eastside

OsteoArthritis Centers of America – Sunnyside Plaza | 10001 SE Sunnyside Rd | 3,766 RSF

SustainDex (environmental|sustainable|clean/bio tech)

Central Business District

Anchor QEA – Commonwealth Bldg | 421 SW Sixth Ave | 4,621 RSF

 

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DesignDex (A/E|apparel|graphic d)

Westside

Nike – Woodside Corp Park | 15100 SW Koll Pkwy | 26,000 RSF

Tetra Tech – Hawthorn Biz Park | 5293 NE ElamYoung Pkwy | 4,367 RSF

TechDex (apps|provider|hardware|var)

Central Business District

Crowd Factory – Oregon Trail Building | 333 SW Fifth Ave | 4,095 RSF renewal

Barefoot Sound – 1710 NW Upshur St | 8,500 RSF

Westside

AIVEA – Amberglen | 1600 NW Compton Dr | 3,793 RSF

GeneralBizDex (consulting|finance|insurance|legal|other)

Central Business District

Randstad – Unitus Plaza | 1300 SW Sixth Ave | 2,700 RSF

Scherzer Strom & Shaw – Commonwealth Bldg | 111 SW Fifth Ave | 3,131 RSF

Mitsui – US Bank Tower | 111 SW Fifth Ave | 1,696 RSF

Vancouver

WPE – Vancouver Biz Pk | 3315 NE 112th | 3,000 RSF

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TechDex (apps|provider|hardware|var)

Central Business District

ELC Technologies – 1771 NW Pettygrove | 4,400 RSF

Enable TV – Century Tower | 1201 SW 12th Ave | 4,235 RSF

CompanionLink – Paulson Building | 811 SW Naito Pkwy | 1,853 RSF expansion

The Good – Raleigh Square | 1603-1625 NW 14th | 3,250 RSF

Vancouver

PCB Universe – Crestwood Biz Ctr | 11818 NE Mill Plain Blvd | 2,112 RSF

HealthDex (hospital/provider|managed care|equipment)

Central Business District

Education Solutions – River Forum I | 4380 SW Macadam | 2,211 RSF

Westside

Western Psychological & Counseling Svs – Cornell West | 1500 NW Bethany | 4,281 RSF

Eastside

Mt. Scott Surgery Center – Mt. Scott Prof. Ctr II | 9300 SE 91st | 7,574 RSF

GeneralBizDex (consulting|finance|insurance|legal|other)

Westside

VergePointe LLP – Kruse Woods I | 5283 Meadows Rd | 5,546 RSF renewal

Pacific Legacy Mortgage – One Embassy | 9020 SW Washington Sq Rd | 6,937 RSF

Knipe Realty NW – Bridgeport Crossing | 7420 SW Bridgeport Rd | 5,063 RSF

Northwest Mortgage – One Willow Creek | 16100 NW Cornell Rd | 3,643 RSF renewal

J.J. Henri – Lake Oswego Exec Park | 5755 SW Jean Rd | 3,497 RSF

Resource Financial Planning – Fairway Center | 9115 SW Oleson Rd | 2,492 RSF renewal

Ohanesian & Associates – 9011 SW Beaverton Hillsdale Hwy | 1,364 RSF

Central Business District

NBS Real Estate Capital – Bank of America Financial Ctr | 121 SW Morrison | 4,552 RSF renewal

Legacy Group Lending – Bank of America Financial Ctr | 121 SW Morrison | 4,824 RSF

NonProfDex (charitable|education|trade assoc)

Central Business District

Portland Community College – Dayton Building | 838 SW First Ave | 2,077 RSF

DesignDex (A/E|apparel|graphic d)

Westside

ATC Group Services – 7070 SW Fir Loop | 2,644 RSF

Evergreen Engineering – One Technology Ctr | 7431 NE Evergreen Pkwy | 17,020 RSF renewal

Thorson Pacific – Lincoln Center | 10300 SW Greenburg Rd | 1,873 RSF

SustainDex (environmental|sustainable|clean/bio tech)

Eastside

LabFX – I-84 Corp Center | 1062 NW Corporate Drive | 1,495 RSF

FunDex

Westside

Lake Oswego Soccer Club – Lake Oswego Exec Park | 5775 SW Jean Rd | 2,125 RSF

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GeneralBizDex (consulting|finance|insurance|legal|other)

Westside

Northwest Bank – Kruse Way | 4900 Meadows Rd | 8,560 RSF renewal

Hayden Properties – Kruse Woods II | 5335 Meadows Rd | 3,564 RSF

Vergepointe LLC – Kruse Woods I | 5285 Meadows Rd | 5,546 RSF renewal

Kforce – 1 Lincoln | 10300 SW Greenburg Rd | 3,244 RSF renewal

Thorsen Pacific – 1 Lincoln | 10300 SW Greenburg Rd | 1,873 RSF

Northwest Mortgage Group – 16100 NW Cornell Rd | 3,643 RSF renewal

Vancouver

Wells Fargo Bank – Vancouver Center N | 700 Washington | 6,886 RSF renewal

Cornerstone Lending – Park Tower Biz Ctr | 201 NE Park Plaza Dr | 2,826 RSF renewal

Central Business District

TicketMaster – Crown Plaza | 1500 SW First Ave | 2,571 RSF

NonProfDex (charitable|education|trade assoc)

Central Business District

Jewish Family and Child Services – Yamhill Plaza | 1221 SW Yamhill St | 4,088 RSF

HealthDex (hospital/provider|managed care|equipment)

Westside

DaCosta Dental – Hall & Nimbus Center | 8400 SW Nimbus | 2,112 RSF

Medius Medical Concepts – Summit Bldg | 1260 NW Water House Ave | 2,133 RSF

Eastside

Hospice Care of NW – 1500 NE Irving St | 5,510 RSF

SustainDex (environmental|sustainable|clean/bio tech)

Westside

LiveLight Energy – Twin Oaks Technology Center | 1815 NW 169th | 6,248 RSF

TechDex (apps|provider|hardware|var)

Westside

nvoice pay – 4 Lincoln | 10250 SW Greenburg Rd | 2,744 RSF

Payer Connections – Kruse Woods II | 5335 Meadows Rd | 1,106 RSF

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DesignDex (A/E|apparel|graphic d)

Central Business District

Glumac – Standard Insurance Center | 900 SW Fifth Ave | 15,500 SF

Vancouver

Maul Foster Alongi – Al Angelo Bldg | 400 E. Mill Plain | 5,500 SF

GeneralBizDex (consulting|finance|insurance|legal|other)

Westside

Caldera International – PacTrust Biz Ctr | 7245 SW Durham Rd | 5,029 SF

Resource Financial Planning – Fairway Center | 9115 SW Oleson Rd | 2,492 SF renewal

Berkeley Law – Tanasbourne Commons | 18933 NW Evergreen Pkwy | 3,768 SF renewal

Central Business District

DYK Inc – Broadway Plaza | 2121 SW Broadway | 1,665 SF

Vancouver

Logistics Services NW – The Fisher Bldg | 16701 SE McGillivray Blvd | 1,734 SF

HealthDex (hospital/provider|managed care|equipment)

Westside

Metis Clinics – Fir Loop Plaza | 7110 SW Fir Loop | 1,098 SF

Eastside

Legacy Health – Broadway Commons | 1620 NE Broadway | 6,977 SF

SALE

Seller: Income Properties NW

Buyer: ISITE Design

Property: Former LA Fitness Building | 2025 NW Overton Stree, Portland, OR 97209

Price: $2,000,000.00

Size: 18,266 SF

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