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Wednesday, July 12, 2017

Lifestyle- The Seven Wonder of Oregon


The Portland Area Real Estate Market has been so HOT that I haven't had time to share the great deals happening this summer! Instead, I thought I'd quickly share the State's Seven Wonders and inspire myself to take a break....maybe in Winter...

However, the TEAM is never too busy to help you with your Real Estate needs!

Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Tuesday, March 14, 2017

Portland’s Industrial Scene Gets Some Big New Projects to Meet Pressing Demand

Specht Development’s Vista Logistics Park in Gresham will deliver 733,000 square feet.  Photo Capacity Commercial Group
Demand for industrial space in Portland continues to outpace inventory in 2017. With a market-wide vacancy rate of 3.9 percent and rents up 16 percent year-over-year, vacated space gets snatched up before it even has a chance to hit the market.

2.3 million square feet of new industial space delivered in 2016

Here’s an illuminating set of numbers for Portland’s industrial market: In 2016, developers delivered some 2.3 million square feet of new industrial space to the Portland metro region; in the same timeframe, the market absorbed 3.3 million square feet of space.
“The absorption is far outpacing the new construction,” said Sean McNamara, a senior associate broker with Capacity Commercial Group, “and we are expecting that to continue this year.”
The discrepancy comes largely from a lag in supply and a boost in demand in recent years. During the recession, what had been delivered to the market annually all but dried up, especially in the speculative and large space market. Then, as the economy picked up in 2014 and 2015, companies needed more space — and quick. But new construction takes time.
The result: a market-wide vacancy rate of 3.9 percent, rents up 16 percent year-over-year in 2016 and vacated space that gets snatched up before it even has a chance to hit the market.

Massive new leases 

Throw in some massive new leases – Amazon took 303,000 square feet on the west side and will take another 855,000 square feet in Troutdale in 2018, while CTDI signed for 210,000 square feet — and the market is a tight one.

Demand not expected to decrease in 2017 

Demand isn’t expected to let up this year, despite the fact that well over two million square feet of new industrial space are set to deliver this year. A big chunk of that space will come in the eastside submarkets, which includes areas like Troutdale and Gresham. Last summer, the Port of Portland sold 29 acres in the Gresham Vista Business Park to Trammell Crow Company for $7.8 million. The developer is building three buildings ranging from 155,000 square feet to 190,000 square feet.
The port also sold 37 acres in the park to Specht Development Inc. for $9.3 million. On those acres, Specht and its partner, New York Life Real Estate, is well on its way to completing the three-building Vista Logistics Park, which upon its planned Sept. 1 delivery will offer up three buildings totaling more than 733,000 square feet. McNamara, who is on a team with Don Ossey and Dave Ellis to lease the project, said is the largest single phase speculative development in Portland’s history.

Read full story:

http://www.bizjournals.com/portland/news/2017/02/23/portland-s-industrial-scene-gets-some-big-new.html
Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Monday, February 27, 2017

Gresham's Vista Logistics Park - SE 223RD & SE STARK ST




Purchased from the Port of Portland for $9,280.000 one building will offer the largest single space under one roof and serve the needs of distribution and industrial business. The project is a partnership between Portland based development, management and construction company Specht Development Inc and New York Life Real Estate Investor LLC. It is the largest single phase speculative development project in the Portland area.

Location: SE 223RD & SE STARK ST/ GRESHAM, OREGON 97030
Property Name:Vista Logistics Park
Product Type:Industrial
Size:732,824 sf
Cost:$61,700,000
Completed:2017
Role:Owner, Developer

 Description:


In August 2016, Madison-Specht Vista Logistics LLC, a partnership between Portland-based Specht Development, Inc. and New York Life Real Estate Investors LLC, commenced construction on 732,824 square feet of speculative industrial space in three buildings on a 37 acre site in Gresham, Oregon. The site will be home to Vista Logistics Park, a regional logistics park that the Portland-based development, property and construction management company is creating to serve the needs of distribution and industrial businesses.


Vista Logistics Park is the largest single phase speculative development ever constructed within the Portland metropolitan area. 

The project will offer the largest single industrial space under one roof, with one of the buildings consisting of 494,464 square feet.
The largest building will have a minimum clear height of 36 feet. Two smaller buildings, of 112,940 and 124,420 square feet respectively, will have clear heights of 30 feet. The project’s additional amenities include: generous truck courts, ample trailer and passenger car parking, and easy access to Interstate 84.

 The site was purchased for $9,280,000 from the Port of Portland

The site was purchased for $9,280,000 from the Port of Portland which worked closely with the city of Gresham to allow Specht to break ground less than two months after the purchase and sale agreement was signed.
Don Ossey and David Ellis will lead the Capacity Commercial Group brokerage team that is charged with leasing the project. The project will be completed in late summer of 2017. Mackenzie is the project architect and engineer, and Perlo Construction is the general contractor.

To download project deatails go to: http://spechtprop.com/specht_property/vista-logistics-park/

For tenant representation contact:
Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Monday, February 13, 2017

Lifestyle- Creation of the Columbia River Gorge


First in a series of "Lifestyle" videos, the history of the formation of the Columbia River Gorge shows Nature's heavy hand in development of the landscape. No permits, no public hearings, no development fees.

Monday, January 30, 2017

Business Oregon- Frequently Asked Question



Start at Business Oregon to begin the jorney to begin and grow your business.

Frequently Asked Questions 

Calls impersonating Business Oregon

Business Oregon has been receiving complaints from Oregon businesses that they are being contacted by callers representing to be from the state's business development office, with the caller asking for details on business size, future plans, revenues, etc.

These calls are not coming from Business Oregon, nor any other of Oregon's state agencies.

Answer/More Information 

How do I start a business in Oregon?

You will need to consult several places to get needed services and forms. 

Step 1  Research and Planning

Your first step in starting a business in Oregon begins with a business plan, research and preparation. If you would like to have personal assistance with this step, contact the closest Small Business Development Center. They can help navigate the registration process, create a business plan, explore financing options and assist with a breadth of other tasks related to starting your business. 

Step 2  Setup

Business registration, business tax numbers, insurance, permits & licensing, hiring and employer obligations. Find information, checklists and forms for every step at the Business Portal. 

Step 3  Find Financing

If your business needs financing, Business Oregon may have a program that can assist. Visit our Financing Resources page. 

Do you have grants available for my business?

Most of the services we offer related to access to capital are loan or loan guarantee programs to small businesses.

You can find more information about our loan and loan guarantee programs on our Finance Programs page. We do have Export Promotion grants of up to $5,000 available to qualified businesses that we can work with to export goods. 

Where can I find information on what businesses received incentives from your agency?

We have some records related to users of financial programs posted on our site.
We are a transparent organization to the extent allowed by law. We have some records related to users of financial programs, or you can make a specific request for information.

What kind of license do I need for my business?

The Secretary of State maintains a database of licenses and licensing agencies.
The Oregon License Directory is the official State of Oregon website that provides a single information source for Oregon licenses, certifications, permits, and registrations (all referred to as licenses). Information on all known state licenses is available on this site, as well as links to license holder lookups (when available) and federal license summary information with links.


Business Oregon, the state's lead economic development agency, works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding, and support of economic opportunities for Oregon companies and entrepreneurs.


http://www.oregon4biz.com/FAQ.php
Looking for Real Estate on the Portland area? Contact:
Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group

Licensed in Oregon

Thursday, January 26, 2017

Leach Botanical Garden Earns Funding for Development Plans

SOURCE: PDC - Eight acres of the upper garden is undeveloped, and the new plans offer botanical and programmatic experiences to visitors, and connect to the historic garden and manor house along Johnson Creek.
We love our public gardens! New funding for Portland's east side Leach Botanical Gardens will help to create a similar excitement for visitors as does the west side gardens, Washington Park Rose Garden, the Japanese Garden and the Lau Su Chinese Garden.
The grounds with it's  2,000 species of plants were donated to the City of Portland by John and Lilla Leach who built the house and begun their gardens in the 1930's. John and Lilla collected plant specimens on their numerous botanical expeditions.
Construction is slated for 2018.

Created on Wednesday, 11 January 2017 | Written by Jules Rogers |
Metro grant, system development charges and a promise to match will fund key projects

New avenues of revenue have appeared in support of the Leach Botanical Garden, east of the Lents neighborhood.
At the end of December, the Metro Council awarded a $188,000 Nature in Neighborhoods grant to the iconic greenspace for the development of its new pollinator garden. The grant include a 2:1 match of $376,000 from Portland Parks Commissioner Amanda Fritz and Portland Parks & Recreation Director Mike Abbate from system development charges. 

The potential of this special place as an urban sanctuary is immense," Abbate said. "It will be a destination for science, for cultural enhancement, and for connecting people to both each other — and to nature in the city." 

On top of that, strong fundraising efforts by the Leach Garden Friends have led Commissioner Fritz and Director Abbate to offer a challenge to the Leach Garden Friends. If they can raise a total of $1.26 million, PP&R will supplement the remaining $4.9 million to fund the entire project.
"I am grateful for the support from Metro, PDC and Leach Garden stakeholders," said Commissioner Fritz. "Fundraising by the non-profit Leach Garden Friends, additional SDC funds that I am committing as a match, and strong advocacy by the East Portland Action Plan and other east Portland grassroots supporters will help create a world-class botanical gem."
The Portland Development Commission (PDC) has already contributed nearly $2 million to the garden from the Lents Urban Renewal Area funds. 

"PDC's investment in Leach reflects our commitment to provide high quality amenities to East Portland and expand opportunities for engagement with the diverse local community," said Kimberly Branam, executive director of the PDC. "The Leach Botanical Garden holds the potential for positive economic development impact, particularly in the Foster industrial area, by offering access to green and open spaces that enhances employers' ability to attract and retain talent." 

The PDC's investment reflects the agency's commitment to provide high-quality amenities to East Portland, and expand opportunities for engagement with the diverse local community.
PAMPLIN MEDIA GROUP FILE PHOTO - John and Lilla Leach lived in this stone house while the main manor was being built in the 1930s. They left the grounds and 2,000 species of plants to the City of Portland.

Challenges in funding parks
 

Leach Garden originally opened to the public in 1983 as a partnership between Leach Garden Friends and PP&R. Its core landmark is John and Lilla Leach's estate and manor house. The two went on botanical expeditions, building the house in the 1930s, and beginning the gardens. They left the grounds and 2,000 species of plants to the City of Portland.
In 1981, the Friends group formed as a nonprofit and have since anchored daily operations with a small staff and group of volunteers.
PP&R commits funding to new parks in communities without, and to expanding or enhancing existing parks that are at crossroads. In the past decades, PP&R operating funding has either been cut or remained flat, postponing rehabilitation and maintenance throughout the city. In 2014, voters passed the Parks Replacement Bond, but the to-do list is long and keeps growing — PP&R anticipates unfunded maintenance needs totaling $250 million and $472 million in additional, unfunded growth needs over the next 10 years. 

Development plans

Eight acres of the upper garden is undeveloped, and the new plans offer botanical and programmatic experiences to visitors, and connect to the historic garden and manor house along Johnson Creek.
The design intends that Leach become the signature public cultural attraction in East Portland.
The gateway to East Portland's buttes and near several other natural areas, the Leach Botanical Garden is a few blocks from the Springwater Corridor trail.
The development plans for the botanical garden include a network of pedestrian trails connecting the upper and lower gardens, a woodland hillside garden with an aerial tree walk, a pollinator garden, public gathering spaces for cultural and educational events, water-efficient landscaping and durable, diverse plants and materials. 

"The master plan envisions creation of spectacular opportunities for economic development, educational recreation facilities, cultural amenities and community gatherings in park-deficient east Portland," Commissioner Fritz said. "  

Just as the Washington Park Rose Garden, Japanese Garden, and Lan Su Chinese Garden on the west side draw visitors from around the region and serve as attractions for tourists, I believe Leach has the potential to create a similar scale of excitement and interest as a unique and treasured park asset on the east side of the City."
The upper garden development plan, adopted in 2015, includes new facilities, botanical interpretations and community space.
Metro's grant is designated toward funding the new pollinator garden.
"Metro is pleased to help the improvements at Leach so that the garden can grow and continue to thrive as a place for beauty, relaxation and reflection," said Metro Councilor Shirley Craddick. "We know this vision was conceived when PP&R acquired the site more than 30 years ago, and it is exciting to know that at Nature in Neighborhoods grant can help the vision become a reality."
Metro's Nature in Neighborhoods capital grants have helped acquire land, restore habitats and streams, transform neighborhoods and promote equity. The grants support partnerships such as neighborhood groups, nonprofits and government agencies to boost access and improve nature.
The SDC funding, from PP&R, comes from one-time fees assessed on new developments, not the general fund tax dollars. By law, park SDCs are restricted to expanding capacity only, not for maintenance or the repair of existing facilities.
"Thanks to the City of Portland and Metro, we have the finish line for this catalytic project in sight," said Leach Garden Executive Director David Porter. "I look forward to robust fundraising efforts."
Construction is slated for 2018.
 Read the cpmplete story:
http://portlandtribune.com/but/239-news/339789-219335-leach-botanical-garden-earns-funding-for-development-plans
Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Wednesday, January 25, 2017

How Business Oregon Can Help Your Business



Business Oregon helps businesses thrive through access to capital and global trade, financing for municipal infrastructure projects, facilitating an entrepreneurial-friendly environment and supporting continued development of an equipped workforce. 

How We Can Help


Business Oregon's approach to traditional business development is anything but traditional. We focus first on supporting the retention and expansion of existing Oregon businesses within traded sectors and foster a dynamic startup and entrepreneurial environment. We then work with companies outside the state to come to Oregon and fill supply chain gaps and grow existing industry clusters.


Our business development team focuses on proactive and substantive partnerships with the private sector, in partnership with local and regional economic development organizations. Our team can serve as the front door to a suite of services from general project management regarding an expansion to specific assistance with exporting goods. Across all facets, we are here to help business grow in Oregon. 

Access to Capital


In addition to ideas, workers and strong management, innovation-driven companies, like all others, need money. We offer direct loan and loan guarantee programs to help business grow and scale, as well as working capital.  

Global Trade


Oregon is a global competitor in everything from high tech to agriculture and natural resources. Approximately 95% of the world's consumers live outside of the U.S. We help Oregon companies reach those customers and bring new revenue into the state, as well as work to attract foreign direct investment. The Global Trade team pairs expertise win both foreign market and industry, along with small matching grants to get Oregon's small businesses into foreign markets. 

Infrastructure


Business Oregon's Infrastructure Finance Authority (IFA) is a key part of the agency's mission. The IFA provides financing to municipalities for extending and upgrading physical infrastructure, as well as catalyzing job creation opportunities when paired with business development projects. IFA funding focuses on these areas: industrial land availability; business development opportunities; community health and safety; and infrastructure capacity. 

Innovation/Entrepreneurship


Sometimes the precursor to business development and trade is innovation that leads to new ideas, that lead to new products or applications, that lead to new businesses and new markets. Business Oregon works to facilitate an entrepreneurial-friendly environment and drives innovation across a variety of industries and business stages. We also house the Oregon InC and corresponding Oregon Innovation Plan to stand up signature research centers that provide shared lab space, high-tech extension services and more. 

Talent and Workforce


Oregon has a strong workforce particularly in areas such as high tech manufacturing, software and other advanced manufacturing industries. We also partner with other agencies to support continued development of an equipped workforce.

Business Oregon, the state's lead economic development agency, works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding, and support of economic opportunities for Oregon companies and entrepreneurs.
http://www.oregon4biz.com/How-We-Can-Help/

Looking for Real Estate on the Portland area? Contact:
Karen Schaaf ACP, GRI
COMMERCIAL BROKER
RE/MAX equity group
Lackman Commercial Group

Licensed in Oregon