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Posts Tagged ‘Green Building’

TechDex (apps|provider|hardware|var)

Central Business District

Avatron Software – One Main Place | 101 SW Main St | 4,834 SF

Eastside

Finishing Technologies – Airport Way Biz Center | 205 Airport Way | 14,077 SF

Westside

MIPS Technologies – Summit Building | 1260 NW Waterhouse Ave | 6,973 SF

Prolifiq Software – The Round | 445 SW Watson Ave | 5,074 SF renewal

DesignDex (A/E|apparel|graphic d)

Westside

Adapt Engineering – Westview Plaza | 10725 SW Barbur Blvd | 2,585 SF

Virtual Construction – Beaverton Plaza |3720 SW 141st Ave | 1,837 SF

MediaDex (traditional|digital|research)

Central Business District

Wunderman Worldwide – White Stag Block | 24 NW Couch St | 2,734 SF

Westside

GSH Marketing – 6800 SW Beaverton-Hillsdale Highway | 2,500 SF

Eastside

TNS Custom Research – Cascade Station | 9830 NE Cascade Parkway | 5,880 SF

Answernet Inc – West Gresham Plaza | 2951 NW Division St | 3,142SF

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

Westside

MD’s LLC – Hilltop Biz Center | 7300 SW Hunziker Rd | 4,817 SF renewal

Vancouver

American Pacific Mortgage – HH Hall Building | 10000 NE Seventh Ave | 4,000 SF sublease

Stewart Title – Park Tower Biz Ctr | 12500 SE Second Circle | 2,968 SF

Central Business District

Renewable Funding – 400 SW Sixth Building | 400 SW Sixth Ave | 4,450 SF

Eastside

Herman Miller Inc. – Lloyd 700 | 700 NE Multnomah | 4,122 SF renewal

HealthDex (hospital/provider|managed care|equipment)

Vancouver

Options 360 Clinic – Cascade Plaza | 1706 W Main St | 2,100 SF

Core Fitness/Stairmaster – 4400 Building | 4400 NE 77th Ave | 26,349 SF

Central Business District

Integrated Healthcare Solutions – River Forum I | 4380 SW Macadam Ave | 7,333 SF renewal

NonProfDex (charitable|educational|trade assoc)

Westside

Pacific University – The Round | 12600 SW Crescent St | 3,119 SF

Portland Rescue Mission – 8555 Canyon Road | 3,449 SF

American Red Cross – Salem | 475 Cottage St NE | 4,225 SF renewal

Eastside

Genealogical Forum of Oregon – Ford Building | 11th & Division | 5,000 SF

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

Central Business District

McAdams Wright Ragen – PacWest |1211 SW Fifth Ave | 10,204 SF renewal

Vancouver

Fidelity National Title – McGillivray Place | 16703 SE McGillivray | 3,050 SF

Westside

Silverado Funding – Lincoln Center | 10300 SW Greenburg Rd | 2,041 SF

Kywa International – Kruse Woods II | 5335 SW Meadows Rd | 1,339 SF renewal

TechDex (apps|provider|hardware|var)

Central Business District

Paydici – Technology & Arts Block | 505 NW Couch St | 2,404 SF sublease

HealthDex (hospital/provider|managed care|equipment)

Westside

Amedisys Oregon – Fanno Creek Place | 16083 SW Upper Boones Ferry | 3,383 SF

Vancouver

Evergreen Pharmaceutical – Vancouver Biz Ctr | 3315 NE 112th Ave | 1,900 SF

Orion Medical – 112th Ave Biz Park | 3002 NE 112th Ave | 10,125 SF

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

Central Business District

Stewart Title – 1000 Broadway | 1000 SW Broadway | 5,295 SF

Westside

Kool Pak – Kruse Way Plaza | 4550 Kruse Way | 5,806 SF

IT Equity Ventures – Lincoln Center | 16250 SW Greenburg Rd | 2,233 SF

Beaverton Chamber of Commerce – 12655 SW Center St | 1,973 SF

Thrivent – 11000 SW Stratus Ct | 1,838 SF

Re/Max Equity Group – 5800 Meadows | 5800 Meadows Rd | 10,026 SF

Vancouver

Bank of America – Bank of America Financial Ctr | 805 Broadway | 14,099 SF renewal

NonProfDex (charitable|education|trade assoc)

Central Business District

Susan G Komen For the Cure – Crown Plaza | 1500 SW First | 4,386 SF

SMART – Crown Plaza | 1500 SW First | 4,087 SF

TechDex (apps|provider|hardware|var)

Westside

Andrews Cooper Technology – 72nd Ave Office Pk | 13533 SW 72nd | 1,158 SF

4K MAP Inc – Cornell Biz Park II | 1300 NE 48th | 2,880 SF

Central Business District

Infinity Internet – Portland Medical Ctr | 511 SW 10th | 10,000 SF

DesignDex (A/E|consulting|graphic d)

Westside

Jacobs Engineering – Kruse Woods III | 5005 Meadows | 31,779 SF renewal

MediaDex (traditional|digital|research)

Westside

Database Marketing – Cascade Plaza West | 12665 SW Center | 6,833 SF

SustainDex (environmental|sustainable|clean/bio tech)

Central Business District

Brookfield Power – DeSoto Building | 720 NW Davis | 6,403 SF

Ecology & Environmental – Oregon Trail Bldg | 333 SW Fifth | 7,806 SF

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In an interesting turn of events, the “greening” of America has slowed down in at least one sector; commercial real estate.  Why does this matter? Because commercial properties account for a significant portion of our carbon footprint and the continued push toward building designs that minimize that footprint are vital to achieving a respectable decrease in greenhouse gas emissions.

Based on a recent survey by the Urban Land Institute, the importance of climate change and alternative energy sources has diminished, at least temporarily, as a factor in real estate investment decisions. Other findings include:

  • Lenders tend to view energy efficiency as an important bottom-line issue, focusing on reducing energy costs not emissions
  • Most respondents are adopting a “wait-and-see” attitude with regard to business strategies involving climate change
  • Environmental issues play a factor only when they produce an immediate return or mitigate investment risks

The fact that the economic stimulus funds aimed at reducing the carbon footprint of both new and existing buildings  seems to have failed to entice many investors to “get with the program” only further demonstrates an increased scrutiny of bottom line costs as a result of the recession.  Many are waiting for  legislative regulation to shake out at the federal, state and local levels first.  With so much still unknown about the impact of government on policies related to climate change, the approach by the lending community is one of extreme caution (particularly after a period of loose lending followed by a government clamp down).

Industry expert Patrick Phillip, CEO of ULI,  predicts that green investing will gain relevance and importance as the market rallies from the downturn. As more information is collected on the performance of green projects delivered prior to the commercial crash, it will be easier to determine the impact on value for lenders and investors.

Source: CoStar.com

 

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The much touted American Clean Energy and Security Act of 2009 cleared the House of Representatives in June and is gaining momentum as it approaches the U.S. Senate floor in September. The impact of this legislation, however, is either a winner or loser for commercial real estate depending on how you view it.  For starters, let’s ignore the extremely controversial cap and trade portion of the bill and focus on three other key provisions that directly affect commercial real estate: building code, energy labeling, and incentives to offset the cost of retrofits.

Building Codes

A change to the national building code would include a mandate of energy improvements in existing buildings.  Beginning with 2018, buildings would be required to use 5% less energy than a baseline consumption marker established in 2005. Every third year thereafter, an additional 5% reduction would be required culminating in a 25% total reduction by the year 2030.

Enforcement of these codes is still unclear with regard to method. The most recent version of this legislation is proposing federal fines for non-compliance within stated timeframes. Owners of older buildings most definitely face the largest burden. Their properties will need greater capital investment in order to make reductions in energy usage on the scale that is being mandated by the federal government.

Energy Labeling

This portion of the proposed legislation is much like the EnergyStar program in so far as the EPA would develop an energy performance labeling program. The provision would only affect new construction completed since the enactment of the bill and require property owners to disclose the energy scores or performance ratings of their properties. California already has a law in place that requires reporting of energy consumption on buildings trading hands (bought/sold). Some argue the market will become the largest deterrent to non-compliance by penalizing owners who don’t improve their property’s energy efficiency (ie. tenants will eventually opt away from low efficiency options). If this proved to be true, then federal fines would not be issued often as owners made the move toward achieving total compliance.

REEP Incentives

Perhaps the stickiest piece of legislation, at least in the current economy, is the energy retrofit requirement portion of the ACES Act.  The capital required to bring existing buildings up to the new code will be significant. To address this expense, the bill calls for the set up of the Retrofit for Energy and Environmental Performance (REEP) program, which would support retrofitting initiatives and potentially offer credit enhancements, interest rate subsidies, and initial capital for public revolving loan funds. This could feel like more handouts from the government and, as of yet, is not clear how it will be funded.

Cap And Trade

This all brings us back to the hot button portion of the ACES Act – Cap and Trade. This provision calls for a 17% reduction in carbon emissions across the U.S. by 2020. This is of particular concern to manufacturing and mining operations, who would be required to make the most aggressive cuts in order to comply. Most office buildings are unlikely to fall within the parameters defined as “unacceptable” and therefore unaffected directly by cap and trade. However, in states where there are coal-fired utilities (midwest for example) or rural areas relying on coal energy, the costs will most certainly be passed down to businesses and consumers alike.

On the bright side, Oregon is mostly hydro-powered so impact to our state would not be as heavy as, say, Ohio or Pennslyvania. 

For the full story, click here http://budurl.com/vzya

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Due for completion in December 2009, the Willamette Block, located at 722 SW Second on the corner of Yamhill, is currently undergoing a $7 million renovation in preparation for the arrival of Portland Community College staff and administrators. The 35,000 square foot building used to house the U of O Duck Shop until the University of Oregon moved into the recently renovated White Stag Building on Naito and Couch.

The interior is being completely gutted with the focal point being a large, ground floor conference room with red glass walls visible from the street. The exterior will not change except for the removal of the green awnings.

Perhaps the biggest change will be the upgrade to full seismic requirements and new mechanical systems. This is intended to help the building achieve LEED Gold certification, making it the third downtown historical property to aggressively pursue LEED status (Brewery Blocks and White Stag being the other two).  Other green features will include:

  • Radiant panels for heating and cooling
  • New boiler heating and chilling units 
  • Sealing existing windows
  • Photovoltaic array on the roof
  • System to harvest gray water for non-potable use
  • Space for bike parking and showers
  • Low-flow toilets and aerators to reduce water use

For the complete story, click here http://budurl.com/5puj

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According to an article in today’s Portland Business Journal, the U.S. Environmental Protection Agency has ranked Portland 19th for the highest number of energy efficient buildings in the country. Portland has 45 buildings that meet the criteria.

Los Angeles has the most buildings with the EPA “Energy Star” rating, with 262, followed by San Francisco with 194 and Houston with 145. Those cities are followed by Washington, D.C.; Dallas-Fort Worth; Chicago; Denver; Minneapolis-St. Paul; Atlanta and Seattle.

For buildings to be considered for Energy Star classification they must use 35 percent less energy and emit 35 percent less greenhouse gases than average buildings.

For a list of the 45 buildings in Portland that meet the Energy Star classification go to – http://tinyurl.com/bjggoc

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