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Posts Tagged ‘relocate’

Besides being a great client of mine, Prichard Communications is a full-service public relations firm who focuses on assisting organizations in the non-profit and public agency sectors.  With clients like the Robert Wood Johnson Foundation, Prichard Communications has their fingers on the pulse of numerous community-minded initiatives. Founder Mac Prichard has worked for both John Kitzhaber and Earl Blumenauer.

Back in 2009, Prichard’s lease was expiring and they wanted to make a change to their offices. Being mindful of costs and growth opportunities, we zeroed in on a 12th floor suite at the 620 Building (620 SW Fifth Avenue). After occupying a smaller office for one year, Prichard began expanding quicker than anticipated and suddenly needed more space. We approached the landlord and identified a larger space a few floors down. The lease was extended for a year and Prichard relocated to the 7th floor and into 1,423 RSF. Their new offices provide additional private offices and a larger open workstation area for growth.

BUILDING: 620 Building
ADDRESS: 620 SW Fifth Avenue, Suite 702, Portland, OR 97205
RSF: 1,423

 
 

Hallway

 
 

Lobby

 
 
 

Private Office

 
 

Reception Area complete with a Greeter

 

 
 
 
 
 
 
 
 
 
 
 
 
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SustainDex (environmental|sustainable|green/bio tech)

Westside

Dow AgroSciences – PacTrust Biz Ctr | 16160 SW Upper Boones Ferry | 38,752 SF

Geocon NW – Parkside Biz Ctr | 8385 SW Cirrus Dr | 3,765 SF renewal

Bridgewater Group – Kruse Way Plaza I | 4500 Kruse Way | 2,414 SF renewal

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

Central Business District

Seifer Yeats Zwierzynski Gragg – Bank of America Financial Ctr | 121 SW Morrison St | 3,433 SF

Vision Capital Mgmt – Umpqua Bank Plaza | 1 SW Columbia St | 3,031 SF renewal

Westside

Tykim – North Pacfic Plaza | 1675 SW Marlow Ave | 2,640 SF

Graystone Partners – 6443 SW Beaverton Hillsdale Hwy | 2,248 SF

Gary Carlson, esq – Cascade Plaza | 12655 SW Center St | 2,236 SF

NonProfDex (charitable|educational|trade assoc)

Eastside

Community Food Security Coalition – 3828 SE Division St | 3,000 SF

SE Works – 7916 SE Foster Rd | 8,119 SF

HealthDex (hospital/provider|managed care|equipment)

Westside

Westside Pediatric – Peterkort Centre | 9555 SW Barnes Rd | 5,243 SF renewal

Central Business District

Insignia Health – Haseltine Building | 133 SW Second Ave | 2,864 SF

Eastside

LEI Medical – Sunrise Biz Pk | 12330 SW Hwy 213 | 9,394 SF

DesignDex (A/E|apparel|graphic d)

Eastside

Pushdot Studio – Ford Building | 2205 SE 11th Ave | 2,094 SF

TechDex (apps|provider|hardware|var)

Westside

Cognex Corp – Creekview Biz Pk | 15865 SW 74th Ave | 15,619 SF renewal

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

Central Business District

Campbell Group – Umpqua Bank Plaza | 1 SW Columbia St | 18,555 SF renewal

Angeli Law – Bank of America Financial Center | 121 SW Morrison St | 3,035 SF

Itochu – One Main Place | 101 SW Main St | 2,022 SF

North Star Consultants – RiverSide Center | 5100 SW Macadam Ave | 5,322 SF renewal

World Adventures Unlimited – 400 SW Sixth Bldg | 400 SW Sixth Ave | 2,865 SF

Eastside

Netmore America – Monterey Plaza | 8495 SE Monterey | 7,234 SF sublease

Granite Construction – 4105 SE International Way | 2,311 SF

Westside

Liberty Mutual Insurance – 4949 Meadows Rd | 3,421 SF

Cross Financial Mgmt – One Willow Creek | 16100 NW Cornell Rd | 5,432 SF

Bank of America – 6000 Meadows St | 5,084 SF renewal

Inform Restaurant Accounting – 72nd Ave Office Pk | 13535 SW 72nd Ave | 1,797 SF

Vancouver

Bailey Pinney & Associates – Lauracrest Building | 12204 SE Mill Plain Blvd | 2,320 SF

Lancer Insurance Company – Stonemill Biz Ctr | 204 SE Stonemill Dr | 4,403 SF

TechDex (apps|provider|hardware|var)

Central Business District

Small Society – Austin Plaza | 517 SW 4th St | 5,400 SF sublease

Westside

Alpha Card Systems – Durham Biz Park | 17858 SW Upper Boones Ferry | 12,000 SF

Vancouver

CCSI – Quad 205 Biz Pk | 10906 NE 39th St | 3,112 SF

SustainDex (environmental|sustainable|clean/bio tech)

Central Business District

Water Quality Environmental – One Main Place | 101 SW Main St | 1,502 SF renewal

Westside

Energy Sales – Tanasbourne Commerce Ctr | 3304 NW 211th St | 3,555 SF renewal

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Last week was a slow one for new transaction announcements. I anticipate this trend to continue through much of August. The good news is there are a number of businesses actively searching the market for office space right now, so starting in mid August we should see transaction activity increase again as leases are signed.

DesignDex (A/E|consulting|graphic d)

Central Business District

IDL Worldwide – SmithCFI Building | 135 NW Park Ave | 10,000 SF

Wolverine World Wide – Bison Building | 422 NE Ninth Ave | 7,000 SF

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

Central Business District

Pinnell Busch – Willamette Park Plaza | 6420 SW Macadam Ave | 4,600 SF

Pacific Crest Securities – US Bancorp Tower | 111 SW Fifth Ave | 27, 714 SF extension

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SustainDex (environment|sustainable|clean/bio tech)

Eastside

RePower – 158th Commerce Pk | 16035 NE Cameron Blvd | 12,750 SF

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

Central Business District

Construction Systems Mgmt – Spalding Bldg | 319 SW Washington | 615 SF

Principal Real Estate Investors – NW Corp Park | 3481 NW Yeon | 13,200 SF

Eastside

C&P Attorneys – Sunnybrook Corp Ctr | 9200 SE Sunnybrook | 2,539 SF

Columbia Pacific Maritime – 2410 SE 121st Ave | 1,085 SF

Rose City Blue Print & Supply – Airport Center I | 5835 NE 122nd | 4,421 SF

Westside

Myatt & Bell PC – 1 Lincoln Center | 10300 SW Greenburg Rd | 1,967 SF

Merrill Lynch – 4004 Kruse Way Place | 4,325 SF renewal

Forest City Trading – 4 Lincoln Center | 10250 SW Greenburg | 12,228 SF

Beaverton Public Library – Murray Scholls Town Ctr | 11200 SW Murray Scholls | 7,032 SF

Bluestone & Hockley – 9320 SW Barbur Blvd | 13,704 SF

Vancouver

Great Western Malting – Port of Vancouver | 2501 Kotobuki Way | 43,500 SF

Westside

Epic Land Solutions – Plaza West | 9600 SW Oak – Tigard | 1,413 SF

TechDex (apps|provider|hardware|var)

Central Business District

Crowd Factory – Oregon Trail Bldg | 333 SW Fifth | 4,095 SF

Systems Management – Willamette Park Plaza | 6420 SW Macadam | 1,973 SF

Westside

Transcore – Creekside 4 | 1100 SW Stratus St | 38,065 SF

MediaDex (traditional|digital|research)

Central Business District

McClenahan Bruer – Water Tower | 5331 SW Macadam Ave | 5,536 SF

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 FMYI SETS UP SHOP IN NEW DIGS

facing mezzanine

facing mezzanine

A great client of mine, Justin Yuen ( @jyuen) of fmyi, recently made the move across the Willamette River into an exciting new property called the LeftBank Project. The brainchild of developer Daniel Deutsch, LeftBank is an excellent example of a creative restoration of historic properties infused with sustainable features. This fact was of great appeal to fmyi, who is committed to minimizing their environmental footprint.

facing north

facing north

fmyi  located on the mezzanine level overlooking the main entrance  (photo to left) and the LeftBank cafe’ (operated by Bon Appetit). Tenants have access to showers/lockers and secure bike storage (inside the building). Other tenants include: Upright Brewing, Gallopowell Studio, Portland Farmers Market, and SOLIDCORE to name a few.

  

HealthDex (hospital/provider|managed care|equipment)

Westside

Bridgeport Eye Physicians – 20015 SW Pacific Highway | 3,259 SF

Medius Medical Concepts – Cornell Oaks | 15244 NW Greenbrier | 4,100 SF

BLIS Inc – 15055 SW Sequoia Parkway | 2,497 SF

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

Westside

Uniforce Staffing – Hilltop Biz Center | 7320 SW Hunziker Rd | 1,187 SF

Wendi Eiland Agency – 12665 SW Center St | 1,061 SF

Bishop Creek Development – 4035 SW Douglas Way | 13,104 SF

Total Assets Mgmt – Triangle Corp Park III | 13221 SW 68th | 2,533 SF renewal

Central Business District

Sojitz Corp – PacWest Center | 1211 SW Fifth Ave | 8,362 SF renewal

TechDex (apps|provider|hardware|var)

Vancouver

GreyHawk Technologies – EastRidge Biz Park | 12121 NE 99th St | 4,400 SF

NonProfDex (charitable|education|trade assoc)

Vancouver

Int’l Air & Hospitality Academy – Kelly Bldg | 200 Grand Blvd | 9,024 SF

Westside

Cadence – Triangle Corp Park III | 13221 SW 68th Pkwy | 2,170 SF renewal

DesignDex (A/E|consulting|graphic d)

Vancouver

Turner Engineering – Port of Vancouver | 2001 Kotobuki Way | 59,400 SF

Westside

Biamp Systems – Arctic Commons | 6020 SW Arctic Dr | 3,376 SF sublease

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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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