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Posts Tagged ‘real estate’

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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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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TechDex (apps|provider|hardware|var)

Central Business District

Ebay – Fifth Avenue Bldg | 1400 SW Fifth Ave | 28,000 RSF

Triton Technical – Postal Building | 510 SW Third Ave | 1,716 RSF sublease

Westside

Mobile Power Solutions – Twin Oaks | 1815 NW 169th Pl | 2,129 RSF expansion

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

Central Business District

Baron Zeuthen Gutzler Market Square |1515 SW Fifth Ave | 5,340 RSF

Robert J Neuberger – Union Bank of Cal | 707 SW Washington St | 3,629 RSF

Adecco – Bank of America Financial Ctr | 121 SW Morrison St | 3,621 RSF

Vancouver

General Conf Auditing Services – Park Tower Biz Ctr | 201 NE Park Plaza Dr | 3,048 RSF

DesignDex (A/E|apparel|graphic d)

Westside

Golder Associates – Oswego Town Square | 9 Monroe Parkway | 4,806 RSF

HealthDex (hospital/provider|managed care|equipment)

Central Business District

OHSU – Fifth Avenue Building | 1400 SW Fifth Ave | 6,000 RSF

Westside

Braden Partners – Parkside Biz Ctr | 7979 SW Cirrus Dr | 2,519 RSF

NonProfDex (charitable|education|trade assoc)

Central Business District

Oregon Community Foundation – 1221 SW Yamhill St | 22,264 RSF renewal

GovDex (government agencies)

Eastside

Oregon Dept of Human Svs – 305 NE 102nd Ave | 4,750 RSF

Westside

Metro Multifamily Housing Assoc – Fanno Creek Place | 16083 SW Upper Boones Ferry | 3,600 RSF

SustainDex (environmental|sustainable|clean/bio tech)

Central Business District

Renewable NW Project – Commonwealth Bldg | 421 SW Sixth Ave | 3,138 RSF

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Two new buildings are nearing delivery inVancouver. Both projects are located in the upper north end blocks of downtown and carry on the movement of a revitalized core.

The private projects, on the west side of Interstate 5 near its exit to 15th Street and Mill Plain Boulevard, include iQ Credit Union’s $10.5 million downtown headquarters and the first of two multi-story buildings in The Al Angelo Co.’s $57 million 400 Mill Plain Center. 

For more on these properties, read this article from The Columbian:  http://tinyurl.com/cvtf7u.

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I came across an interesting report called “The Best Places in the World to Buy Real Estate” (Forbes online http://tinyurl.com/crvlr2).  Interestingly, it had Houston ranked 9th overall for strong office space demand and rental rates up from $21.06 in 2006 to $29.00 in 2009.  The winner is Washington D.C., who has the US government pouring millions into the local economy through party change and attrition as well as having an extremely low unemployment rate of -4.1%.  This is the first year in several that London was not at the top spot (No. 2) and this shift was attributed to an overbuilt office space market based on demand in previous years.

The list of best markets for a buyer are:

  1. Washington D.C.
  2. London
  3. New York
  4. Tokyo
  5. Shanghai
  6. San Francisco
  7. Lon Angeles
  8. Paris
  9. Houston
  10. Singapore

So, there you have it, a global view of where to buy space and set up shop. I’m leaning toward Singapore because it is so clean. Now on to our weekly review of moves in Portland.

TechDex (apps|hardware|provider|var)

Westside

X5 PDX – 1 Lincoln | 10300 SW Greenburg Rd. | 1,040 SF

NXREV Inc. – Griffith Park Corp Ctr | 4900 SW Griffith Dr. | 1,011 SF

EthicsPoint – 6000 Meadows | 6000 Meadows Rd. | 22,450 SF

 

Another Semi Conductor Property Hits the Market

After accelerating the retirement of all 200mm fab plants, the Hynix semiconductor facility in Eugene, Oregon hit the market this week with 1.2MM square feet on 200 acres for sale. This includes 173,000 square feet of Class 1, Class 1k and Class 10k clean room space (which is incredibly expensive space to build out and thus, worth a lot to a user who needs it).  No asking price is disclosed, which is typical of such a large asset disposition, but an educated guess puts around it between $30-$40M. This is similar to the real estate HP has up for sale just over the river in Clark County (750,000 SF on 200 acres), and that property has been on the market for well over a year – though there is strong buyer interest circling at this time.

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It was another slow week of lease transactions in Portland. The majority of the companies announcing moves fell under the financial services and insurance categories interestingly enough. The largest deals were Paulson Capital, who renewed 17,136 SF at the Paulson Building (811 NW Naito); Premier Source LLC, who leased 13,321 SF at the Spaulding Building (319 SW Washington); and The Government of Japan, who renewed 11,604 SF at Wells Fargo Center (1300 SW Fifth).  It will likely slowdown considerably more this week and not pick back up until after the first of the year.

MediaDex (traditional|digital|research)

Central Business District

OnPR Inc. – Morgan Building | 720 SW Washington St. | 1,417 SF

Westside

Madsense – 14705 SW Millikan Way | 2,623 SF | $817,000

DesignDex (A/E|consulting|graphic d)

Central Business District

Staccato Design – Madison Condos | 1140 SW 11th Ave. | 6,193 SF

Paragon Consulting – Unitus Plaza | 1300 SW Sixth Ave. | 2,750 SF

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Okay, so when people ask me what I do and I say “commercial real estate”, they typically respond with “ohhh” and then move on to someone else’s professional pursuits.  Admittedly, the daily processes involved with pulling together a good commercial real estate package can be mundane at times. But at its core, the industry is all about sharing information.  This is where the business becomes intriguing and fun; knowing what businesses are coming and going, contracting and growing, and how much it cost. On top of this, you get an unbelievable education on the types of niche’ businesses in the market (see our Piece of the PDX Pie monthly feature at the bottom).

Fascinating like the study of blackholes or earthworm reproduction, well no, but being behind the scenes of what makes Portland’s business environment tick is definitely cool. So, with this said, my partner and I thought we would share a little of the “behind the scenes” activity with readers.

For ease of use, we have created a few test indices (by industry) of various transactions in the Portland market.  We can add industries and welcome suggestions for other information/statistics you would find helpful or interesting.  Our intention is to update this information as it occurs, with this initial post reflecting transactions dating back to the beginning of the Third Quarter 2008 (July 1, 2008).

We have also included some market comps so that you can see where deals are being struck in the various submarkets of Portland/Vancouver.

Comps Around Town

 

Submarket

Size

Term

Rate

Free Rent

New/Renew

Bldg Type

 

Beaverton

6500

5 yrs

$17.00

none

New

Class B

 

CBD

3800

5 yrs

$24.00

2 mths

Renew

Class C-H

 

CBD

3600

3 yrs

$21.00

2 mths

New

Class B

 

Eastside

4100

5 yrs

$19.00

none

New

Class C

 

Vancouver

9500

10 yrs

$24.00

6 mths

New

Class A

 

 

TechDex (apps|hardware|provider|var)

Central Business District

 

TripWire – One Main Place | 101 SW Main St. | 33,062 SF

Iterasi – Pioneer Arts Building | 715 SW Morrison St. | 4,141 SF

CompanionLink – One Main Place | 101 SW Main St. | 3,000 SF

Infinity Internet – Portland Medical Cntr | 511 SW 10th Ave. | 10,000 SF

Westside

 

Pixelworks

– Durham Plaza | 16650 SW Boones Ferry | 4,875 SF

Corrigo – Tualatin Commons | 8215 SW Tualatin Sherwood Rd. | 8,178 SF

Lunarr – 5 Lincoln | 10200 SW Greenburg Rd. | 2,660 SF

Prince Telecom – 14215 NW Science Park | 3,525 SF

Linden Technologies – Cornell West | 1500 NW Bethany Blvd. | 1,569 SF

Trivium Systems – Twin Oaks Exec. Cntr | 1865 NW 173rd Plc. | 1,288 SF

Healthco Information Systems – 7657 SW Mohawk St. | 9,119 SF

SQLSoft Inc. – Cornell West | 1500 NW Bethany Blvd. | 5,235 SF

Veicon Technology – WCI Building | 19720 NW Tanasbourne Dr. | 2,325 SF

Retail Dimensions – 4800 SW Griffith Dr. | 1,680 SF

Cypress Semiconductor – Creekside Corp Park | 9125 SW Gemini Ave. | 4,300 SF

Comsys – 3 Lincoln | 10220 SW Greenburg Rd. | 9,156 SF

 

MediaDex (traditional|digital|research)

Central Business District

 

Harris Interactive – Riviera Plaza | 1618 SW First Ave. | 2,727 SF

RumbleFish – OMCC | 107 SE Washington St. | forthcoming

Downstream Digital – Fremont Place | 1650 NW Front Ave. | 16,521 SF

Pyramid Communications – 526 NW 13th Ave. | 3,630 SF

Audient Consulting – OMCC | 107 SE Washington St. | 2,696 SF

Yellowpages.com – One Main Place | 101 SW Main St. | 6,956 SF

Liquid Agency – Triangle Building | 1800 NW 16th Ave. | 2,971 SF

Lakonic Partners Inc. – Mikado Building | 117 SW Taylor St. | 3,610 SF

Westside

 

Rubicon Interactive – Pacific Corp Center | 15350 SW Sequoia Pkwy. | 2,709 SF

MKTX Inc – Creekside Corporate Center | 8205 SW Creekside Plc. | 2,210 SF

MSN Communications – Kruse Woods II | 5335 Meadows Rd. | 2,515 SF

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

Angelvision – Hilltop Business Cntr | 7300 SW Hunziker Rd. | 5,264 SF

ReachLocal Inc. – 1 Lincoln | 10300 SW Greenburg Rd. | 4,374 SF

Eastside

 

Seamless Event Solutions – 12838 NE Airport Way | 5,760 SF

 

DesignDex (A/E|graphic d)

Central Business District

 

Hiromi Ogawa Architects

– OMCC | 107 SE Washington St. | 1,200 SF

Dull Olson Weekes – Federal Reserve Building | 915 SW Stark St. | 13,624 SF

Robertson Architecture Inc. – 1512 SW 18th Ave. | 2,300 SF

Walker Macy – Failing Building | 111 SW Oak St. | 11,107 SF

Westside

 

PNG Environmental – Hampton Oaks | 6655 SW Hampton St. | 1,960 SF

Geoengineers – Pacific Corp Center | 15055 SW Sequoia Pkwy. | 8,638 SF

Heery International – Sunset Business Park | 9600 SW Barnes Rd. | 4,143 SF

West Yost Associates – Lakeside Center | 8100 SW Nyberg Rd. | 5,315 SF

Smith Monroe Gray – Cascade Square | 8628 SW Cascade Ave. | 8,052 SF

Eastside

 

Locating Inc. – Airport Business Center | 6601 NE 78th Ct. | 4,121 SF

 

SustainDex (Environmental|Sustainable|Clean/Bio Tech)

Central Business District

 

Ecology and Environment Inc. – Oregon Trail Bldg | 333 SW Fifth Ave. | 7,806 SF

Conservation Services Group – Market Square | 1515 SW Fifth Ave. | 3,782 SF

Brookfield Power – Desoto Building | 720 NW Davis St. | 6,403 SF

Vestas – 2000 SW First | 2000 SW First Ave. | 12,103 SF

rePower USA Corp – One Main Place | 101 SW Main St. | 1,557 SF

Garrad Hassan America Inc – Oregon Trail Bldg | 333 SW Fifth Ave. | 1,855 SF

Westside

 

Particle Measuring Systems Inc.

– 1100 NW Compton Dr. | 1,518 SF

 

PIECE OF THE PDX PIE! – October 2008

Plas2Fuel – A privately-held alternative energy company who converts mixed

waste plastics into synthetic crude oil and other valuable petrochemical

products. Finally you can take all of those old baby toys and use them to fuel

your Escalade!

 Authors/Experts

Kristin Hammond and Mark McFarland have over 30 years of combined experience representing tenants with commercial real estate requirements. At Pacific Real Estate Partners (PREP), we help businesses assess and respond to their real estate priorities in a consistent, efficient, and cost effective manner. For more background, click on the Authors tab at the top of the page.

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