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Commercial Real Estate Deals 05.18.12

May 18th, 2012 by

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Office and Industrial Leases Signed in the Portland Metro Area

Featured Lease: Pacific Natural Foods Inc., leases 302,765 square feet in Wilsonville.

 Pacific Natural Foods Inc., began in 1987 making soymilk. Over the past 25 years the company has expanded their line to also make beverages made from nuts and grains, soups, broths, and pot pies, and if you shop at any locally sourced grocery stores you’re sure to have seen their products (my personal favorite is the Creamy Butternut Squash). Recently, Pacific Natural Foods Inc. signed a lease for 302,765 square feet at 27255 SW 95th Ave. in Wilsonville, OR. The warehouse was home to Nike until 2009, when they left the 508,277 square foot warehouse vacant. Now located in Tualatin, Pacific Natural Foods plans to move to their new building in Wilsonville in the beginning of September this year.

The 508,277 square feet that Nike left vacant was a large contributor to the more than one million square feet of vacant industrial space in the Wilsonville submarket. With Pacific Natural Foods taking 302,765 square feet, the industrial vacancy rate in Wilsonville dropped by almost 25%. The lease between Pacific Natural Foods and Lake Wilsonville Industrial, LLC is the largest exisisting-building lease to be signed in the Portland Metro area in the last ten years.
  • Pacific NW Renal Services LLC leased 11,850 square feet at the International Corporate Center, 11909 NE Glenn Widing Drive.
  • Medallion Forest Productes leased 2,613 square feet of office space at 8338 NE Alderwood Road.
  • Silverline Automotive Inc. leased 6,500 square feeat of industrial space at Airport Way Commerce Park.
  • Hardwood Specialty Products US LP leased 21,002 square feet at Wilsonville Buisness Center, 9740 SW Hillman Ct.
  • Central Sprinkler Co. leased 12,812 square feet of industrial space at 7500 SW Tech Center Drive, Southwest Commerce Center.
  • The Last US Bag Co., leased 5,100 square feete of industrial space at 10906-11012 NE 39th St., Vancouver.
  • Company Crench Ltd. leased 4,800 square feet at 3909 Fruit Valley Road, Vancouver.

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Commercial Real Estate Deals 05.11.12

May 11th, 2012 by

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Office and Industrial Leases Signed in the Portland Metro Area 

  • Pivot Learning leased 9,000 square feet of office space at the Electric Building, 621 SW Alder St. Portland.
  • River Network leased 3,400 square feet of office space at 209 SW Oak St., also known as the Police Block.
  • Forix LLC leased 3,093 square feet of office space at Jefferson Office Park, 2120 SW Jefferson St., Portland.
  • E-Business International, leased 10,031 square feet at 3003 SW 153rd St., Beaverton.
  • Hansen Hunter & Co. PLC, leased 2,556 square feet at Nimbus Corporate Center, 8930 SW Gemini St., Beaverton.
  • Dimond Physical Therapy & Performance leased 7,088 square feet at Jackson Business Center, 7800 SW Dhurahm Rd., Tigard.
  • Directors Mortgage Inc., leased 2,566 square feet at Kirkwood Business Park, 2105 NE 129th Ave., Vancouver.

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Why Cresa? A Look at Our Corporate DNA

May 10th, 2012 by

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 Darren Fleming, Managing Principal Cresa Ottowa

“Last week over half our company converged in sunny Miami to discuss, among other things, what is it that makes Cresa such a success?  In other words: What is Our DNA?

During several great days of team building and camaraderie, I have to say my personal highlight was a two hour Saturday morning session led by Tom Birnbach and Dan Shapiro of our Washington DC office where we discussed why we all worked at Cresa.  In the next two hours something special took place as professionals from across the company explained on an individual basis why they felt as they did about working for Cresa and serving our clients. Words and phrases were flying around, getting written down on poster boards and in the midst of it the following words seemed to coalesce in my mind, compelling me to write them down and to share them:

We Believe

1.  We believe that the current model of commercial real estate brokerage is inherently broken and unfair to tenants.

2.  We believe that tenants deserve more (of everything!) than what our industry has traditionally offered.

3.  We believe our role as Cresa Advisors is to change the rules and disrupt “typical industry practices” to the benefit of our clients.

4.  We believe the best way to do this is to encourage an internal culture that is collaborative, promotes excellence, and whose mission is to serve others before ourselves.

5.  We believe we are in a different business from our competitors.

It is my sincerest hope that the words above will serve as a starting point for our team and our clients (past, present and future) to start a discussion that will bring us closer together, drive greater success, and increase all of our personal satisfaction.”

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