The Holt Distressed Property Fund has purchased Lot 1 at the Riverscape Development, a 1.5-acre parcel on the riverfront in the urban core. The lot is within the River District Urban Renewal Area at 2200 NW Front Avenue, and is designated for residential mixed-use development. More >
NAI Norris, Beggs & Simpson Senior Property Manager Christina DuCoté will serve as the 2013 President of the Institute of Real Estate Management (IREM) Oregon-Columbia River Chapter No. 29. More >
Vancouver Public Schools has listed the former City Hall in downtown Vancouver for sale, and enlisted NAI Norris, Beggs & Simpson Principal, Director of Vancouver Production Charlie Kleier and Senior Real Estate Broker Doug Bartocci to sell the property. More >
NAI Norris, Beggs & Simpson’s Charlie Kleier, a longtime Vancouver investment broker and partner in the company, is taking over management of the company’s Vancouver office. His new title is Principal, Director of Vancouver Production.
Kleier is an investment broker who has been with NAI NBS since 1989. In addition to his new role and duties, he will continue to be active in brokerage production. He became a partner in Norris, Beggs & Simpson Companies in 2004. More >
Interface Engineering, in coordination with NAI Norris, Beggs & Simpson, will issue a Request for Proposals (RFP) to develop a highly sustainable office environment for the engineering firm’s Portland staff. As the first step in the RFP process, NAI NBS and Interface are distributing a Submission of Interest request, which can be downloaded here.
The vision and program for its future space reflects Interface’s strong commitment to a headquarters office that is a Living Building and fulfills the firm’s following mission:
To develop a highly sustainable office environment at sustainable ownership/lease rates as a living laboratory to design, implement and test innovative green building techniques, advancing industry knowledge to achieve high performance buildings.
Interface has engaged NAI NBS to manage the proposal and interview sequence as an objective and transparent process. Because Interface is seeking an ownership position in its future headquarters, the pending RFP will solicit proposals from developers and/or potential owner partners interested in highly sustainable design and construction projects. More >
Eastern Real Estate Begins Renovation of Portland’s Historic US Custom House; Space in Pearl District Office Building Will Be Available in Early 2013
With the acquisition of the US Custom House complete, new owner Eastern Real Estate LLC is embarking on a renovation of the historic office building.
Eastern, a California and Massachusetts-based real estate company, acquired the 78,838 square foot building from the General Services Administration (GSA) in a government auction and closed in early October. The company has commissioned a number of local firms, including GBD Architects, Lorentz Bruun Co. and KPFF Consulting Engineers, to work on the project. First Republic Bank’s Portland office provided the financing. NAI Norris, Beggs & Simpson Senior Vice President Sean Turley and President Chris Johnson are leasing the space, which is expected to be ready for occupancy in early 2013. More >
Downtown Vancouver’s Bank of America Financial Center, Clark County’s largest Class A office tower, has seen a flurry of leasing activity, gaining four new tenants in a total of nearly 30,000 sf.
NAI NBS’ Tamara Fuller and Doug Bartocci represented the building’s owner, the Schlesinger Companies, in the following transactions:
-General Services Administration (GSA) – 14,750 sf. Tenant represented by Jones Lang LaSalle.
-CW Capital – 7,265 sf. Tenant represented by Craig Reinhart and Paul Giannopulos, CresaPartners.
-Occuscreen – 3,375 sf. Tenant represented by Doug Bartocci, NAI NBS.
-Wells Fargo Advisors – 3,492 sf. Tenant represented by Eric Turner, CresaPartners.
A total of 28,882 sf was leased. More >
Robert Greenfield has joined NAI Norris, Beggs & Simpson as a Real Estate Broker specializing in office leasing and sales.
Greenfield was most recently an Area Sales Manager at Regus, a provider of executive suites and office space, where he was responsible for office space marketing and lease negotiations. He also completed a year-long internship with Portland’s Debbie Thomas Real Estate focusing on marketing new property listings and the site search process.
Robert is a graduate of the University of Oregon, and is a licensed real estate broker in Oregon.
NAI Norris, Beggs & Simpson has released its Second Quarter 2012 quarterly reports for office, industrial, retail and multifamily commercial real estate, as well as its economic report.
Office vacancy rose slightly during Second Quarter, to 13.71 percent in central city, 22.76 percent in the suburbs, and 16.62 percent in Vancouver.
Retail vacancy rose slightly to 6.91 percent, with a significant increase in vacancy in Central City as the Yamhill Marketplace former Bally Total Fitness became available. Grocery stores, including Wal-Mart, continue to expand throughout the metro area.
Industrial vacancy fell slightly to 14.19 percent during Second Quarter, with a significant drop in vacancy in Vancouver due to Canfield Transfer’s 62,798 sf lease at Columbia Business Center, and some other sizable leases.
The multifamily market continued to improve, with vacancy down to 2.6 percent during Second Quarter and rental rates rising. Though the single-family housing market is finally seeing some sustained recovery, the apartment market will remain healthy, with strong demand for the roughly 6,000 units under construction in the metro area.
Full reports are available at http://www.nai-nbs.com/Pages/marketresearch.html.