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.
Looking for Real Estate on the Portland area? Contact:
Karen Schaaf ACP, GRI
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:
Karen Schaaf ACP, GRI
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. 


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. 


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.

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

Licensed in Oregon

Tuesday, January 24, 2017


PAMPLIN MEDIA GROUP: JOSEPH GALLIVAN - Another quiet Andersen site in the Pearl, at 13th and Johnson. Many Portland construction firms call snow days when Portland Public Schools does, taking it as a guide to how accessible the streets are.

January 2017 lived up to it's winery reputation earlier this month. With 11.8 inches of snow recorded in downtown Portland,  this was the biggest snowstorm in about 20 years. We all feel the effects of school closures, power outages and impassable roads, but have you ever thought about the effects of extreme weather on large construction projects?

Construction projects live and die by their schedules. Or rather, their budgets survive or get bloated. Time is money, and if one part of the process gets delayed — dewatering, a foundation pour, the arrival of a tower crane — the cumulative effects can be more than the cost of a few extra days. It's a supply chain as sure as sneaker manufacturing or making gadgets.

Record cold temperatures for January 5, 2017 (KOIN)

          Portland area contractors follow schools in calling snow days

As Portland awoke on Jan. 11, 2017, to 12 inches of snow, a great hush had fallen over the city. Not just from the absence of freeway traffic, but the silencing or earth moving machines, beeping trucks, churning cement mixers and the hollering of construction workers.
The construction sites were silent. At 1411 N.W. Quimby Street a site has been cleared for a new six-story apartment building with 135 units. However, there wasn't even a security guard visibly protecting the earthmovers and giant foundation drill. For three weeks since the former trailer hitch warehouse was knocked down, bulldozers and backhoes have toiled in mud — sometimes three feet deep — as the winter rains made leveling the site difficult, but not impossible. Even when the soil froze, they kept on working. 

But snow shut the work down. 

Kitty corner from that, it was the same tale at 1420 N.W. 14th Avenue, where SERA Architects has designed a nine-story mixed-use building with 290 apartments for Millcreek to open later this year. Even though there was plenty of inside work to be done (a truckload of peach-colored insulation had arrived the day before) no one showed up for work Wednesday, and only one person the next day was removing snow.


Two blocks east at 1150 N.W. Quimby St. the pile driver for Block 20, at where a 21-story condo tower will be built, was silent. Snow covered the concrete and steel foundations being built by Andersen Construction.
A few blocks south at another Andersen site there was a similar silence. Only the wind whistled around the exposed steel work of Block 136 at 1241 N.W. Johnson St. on the site of the old Pacific Northwest College of Art. Here two buildings are going up: one five-story office building fronting Northwest 13th Avenue, and one 15-story building facing Northwest 12th Avenue with 208 residential units.
Construction projects live and die by their schedules. Or rather, their budgets survive or get bloated. Time is money, and if one part of the process gets delayed — dewatering, a foundation pour, the arrival of a tower crane — the cumulative effects can be more than the cost of a few extra days. It's a supply chain as sure as sneaker manufacturing or making gadgets.

Playing safe

"Not only does a single snow day cause safety issues like it does for all of us in gaining access to our job locations, the effects can actually last quite a bit longer and become issues prior to the actual snow days," said Eric Bolken, a project manager at the DLG Group.
"For construction that is not in the dry already, the sites need to contend with things like freezing standing water in places as well as well as slippery conditions for installers of elements like roofing. In many cases, manufacturers' recommendations also have limits for temperature ranges required for applications."

School's out

Project managers have to play catch up. "[That] can be difficult. Depending on the delivery method and contract structure for the project, this may cause additional costs for overtime and weekend work in order to recover the time that is lost. I am currently working on some K12 projects and they do not have the potential luxury of extending schedules given the school year is going to start again next fall and the building needs to be ready to go when that time comes."
Certain days missed that cause more trouble. "Working on school projects, the big focus is getting in the dry so the interior work can progress at the same time as final exterior applications. Any critical path items that keep you from getting to that point are the most concerning."
"Some weather delays like snow and freezing temperature not only affect the specific site but also limits subs from producing the materials. For instance, precast concrete panels for walls cannot be poured in colder temperatures, concrete cannot be mixed and delivered to sites and asphalt suppliers cannot run their plants."
And what about rain? "Rain can cause just as many issues as snow in some cases for installation of different products such as sealants or exterior wall insulation which cannot be wet while installing is in progress."

Florida woman

With 14 inches of snow on the ground in Portland, architect Amy E. Vohs, Senior Associate also at the DLR Group, was multitasking to stay on top of a project of multiple Orchard Supply Hardware stores in south Florida, where snow days are a quaint abstraction.
"For the last several Fridays, we've had snow days (in Portland) and had to work from home to get drawings and meetings taken care of," Vohs told the Business Tribune. On Jan. 11, even UPS and their printing companies were shut down. "So we are emailing all of our documents to an office in Orlando for printing." Vohs was hopeful of flying out of PDX to Orlando the next day (Thursday) to sign and seal drawings then walk them into the Jurisdiction for permit.
Vohs says in Florida they are, however, well used to hurricane weather. It had pushed their construction schedule more than a week.
"Jurisdictions were closed, sites were prepped then cleared of workers. As soon as the storm passes, the contractor had to go back out, clean up the site from debris, repair any damage and then get back to work."
Since they already depend on online meetings to get their work done, a few snow days have not been that big a challenge to Vohs and her DLR colleagues.
They Zoom for meetings, Newforma for submittal and RFI reviews and Plangrid for document control on sites.

Back to work, for some

On Thursday, the day after the snowstorm, the ground was still icy but traffic was moving on side roads. Some crews in northwest Portland were back at work. Greg, who did not want to give his last name and who drives a cement truck for Gresham Transfer, was blasting cement powder down a hose to a tank where it will be to set shoring columns. He said the snow caused cancellation of a job at Swan Island on Wednesday, as well as at Northwest 14th Avenue.
Staff working for the earthworks company showed up Wednesday. However with no cement, they couldn't work so they went home. One said he nosed his truck through 18 inches of snow near Ridgefield, Washington, to get there. Another had arrived in his Prius just fine.
In the site office of Alliance, the builder, Cooper Denson, a field superintendent, explained it.
"What stops us is trucks won't roll. Cement trucks won't drive so we can't work. The batch plan (concrete delivery) controls our ability to work. "

Follow the schools 

"A lot of companies will defer to the school district for closures. It's just an easy way to determine whether the roads are safe. But that's just localized you go outside of Portland and they do it differently."
Denson said he called his subcontractor, who wanted to work, but in the end they couldn't because the cement didn't show up.
"I love it," he says of the snow. Denson comes from Anchorage Alaska, and though he has lived here for 19 years, he still thinks construction crews could do more when it snows. "I guess if it happened (a foot of snow) in LA it would shut them down," he joked. But he sees contractors in other states, like Minnesota, simply plan better. "They winterize and they get ready for it. In our area that's not really necessary because of the duration, but in eastern Oregon you have to keep working."
The only other shut down hazard they know of in Portland is freezing rain.
His colleague Scott Howell, assistant superintendent is a Canadian who has been here a year. "It has to be minus 30, minus 40 and four or five feet of snow before we shut down in Canada," he told the Business Tribune. "And if it's icy, you scrape it off."
Denson says they'll have to add another day to the schedule. "Yesterday was our first lost day. But it's still loss." As for make up time or overtime, that's ultimately up to the client."
Karen Schaaf ACP, GRI
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Monday, January 23, 2017

Sherwood Gets Its First Hotel

COURTESY OF HILL ARCHITECTS - Access to the citys first hotel will be off of Meinecke Road. Some neighbors have expressed concerns about hotel-goers driving through nearby neighborhoods to get to the location.
The proposed 73 room building at 47 feet tall,  would be the City's tallest building and generate $150,000 additional yearly income via Transient Lodging Taxes.  Any develpment has a down side and Sherwood City Council will take into consideration neighbor concerns about parking , traffic running through the neighborhood, no direct access from Hwy 99 W and if " that tiny corner is the right corner for a hotel".

Planning Commission approves construction of Hampton Inn, city's first hotel

Created on Friday, 23 December 2016 | Written by Ray Pitz
Sherwood's first hotel, a four-story Hampton Inn planned just off of Highway 99W with access from Meinecke Parkway.


The Sherwood Planning Commission has approved the construction of Sherwood's first hotel, a four-story Hampton Inn planned just off of Highway 99W with access from Meinecke Parkway.
The decision came following a more than three-hour meeting Dec. 13 with testimony from nine residents adjacent to the proposed 73-room building. All expressed concerns about the location of the facility based on issues of parking, traffic flow, privacy and general aesthetics.
Hotel entrance plans call for customers to access it by turning off of Highway 99W onto Meinecke Parkway, following it around the roundabout and looping back to make a right-hand turn into the facility on the same street.

 Traffic engineers estimate that there will be approximately 650 trips per day made to the hotel

Michelle Miller, a city senior planner, told commissioners that along with 62 parking spaces at the hotel, another 12 would be leased from Cheyenne Plaza, the adjacent complex that contains Generations Bar & Grill along with a health club and hair salon. In addition, other parking would be available along Smith Avenue and Alexander Lane Traffic engineers estimate that there will be approximately 650 trips per day made to the hotel, which officially will have an address of 21970 Alexander Lane, just south of Generations Bar & Grill.

 Plans are to build a "very nice" hotel geared toward business and vacation travelers with the city receiving an estimated yearly tax revenue of $150,000

Lloyd Hill of Hill Architects of West Linn, said plans are to build a "very nice" hotel geared toward business and vacation travelers with the city receiving an estimated yearly tax revenue of $150,000. Regarding concerns over parking and traffic, Hill said he didn't expect the hotel to be completely occupied on a regular basis, noting it generally would be 70 percent filled. He also noted that the hotel would not normally need more than the 62 parking spaces on site.
One contention that Hill laid to rest is the possibility of another Hilton Hotel brand facility (Hampton Inns are part of the company's holdings) a mile or so up the road, noting it would be the only one in the area.
During a neighborhood meeting in September, a representative from Deacon Development Group said his company had plans to build a hotel, possibly a Hampton Inn, off of Highway 99W and Edy Road, next to a planned assisted living facility. Among the other hotels owned by Hilton Worldwide Holdings, Inc. are Embassy Suite Hotels, Double Tree by Hilton and Hilton Garden Inns.

 Rising up to 47 feet tall, the hotel will be the first four-story structure in the city.

However, several residents of the new hotel expressed objections of having the facility so close to their neighborhoods.
"I think it's a horrible idea," resident Ashley Weston told the commission. She said one of her biggest concerns is traffic running through the neighborhoods at Sequoia Terrace and Noble Fir Court.
Mike Meyer, owner of Generations Bar and Grill, testified that at first blush he thought the hotel would be good for his next door business.
However, "My concern is parking," he said, noting that after a Friday night football game the parking lot at Cheyenne Plaza is filled and there are vehicles parked along Smith Avenue as well.
Resident Ron McCullough pointed out that while Sherwood High School won't have students driving to school once it's turned into a middle school, it will have more students walking in the area. He said while the city needs a hotel (and that he personality works for a contractor who built hotels) but didn't favor the current location.
"That little tiny corner is not the right corner," he said.
Meanwhile, Jean Simpson, chairwoman of the Sherwood Planning Commission, said she was surprised that no safety improvements are required to the roundabout or to Highway 99 despite the fact the facility is estimated to generate 650 daily trips to the site per day.
Russell Griffin, commission vice chairman, explained to residents that in approving or denying any planning project, the commission must adhere to what the city code allows. Addressing suggestions from some residents that access should be from Highway 99W instead of Meinecke Parkway, Griffin explained that Highway 99W is a state highway under the jurisdiction of the Oregon Department of Transportation, which has consistently denied direct access to businesses from the roadway. 

"Is it the right spot for the applicant? 

I don't know," said Griffin. He noted, however, that the decision could be appealed to the Sherwood City Council, which would hold another public hearing on the issue.
One requirement the commission requested is that city signage be installed, directing hotel-goers to the facility without traveling through nearby neighborhoods on how to get there.

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

Friday, January 20, 2017

The Amy: Affordable Studio Apartments for Students Attending PSU

Set to open in the Fall of 2017 and slated to rent for 15% below market rate, the $20 million project will have 141 fully furnished studio units with 35 parking spaces and 250 bike parking stalls provided in a secure below building garage. Common area amenity spaces include outdoor patio with BBQ and fire pit, lobby area with communal study tables, 3 common kitchen with lounges...and views of downtown Portland! Sign me up, I'm going back to school! 

The Amy

Formerly a 30-unit student apartment building located blocks from Portland State University Campus, The Amy is being developed by College Housing Northwest into five floors of modern, affordable student housing with a wide range of amenities and support services. With this redevelopment, CHNW seeks to expand on its mission of providing housing that fosters academic and personal development. The project is set to open in Fall 2017.

Project Overview

The Amy will be a state of the art, $20 million dollar project with 141 studio units in over 75,000 square feet of independent student housing. Located blocks from campus at the foot of the Portland’s Southwest hills, this unique site provides views of downtown Portland and includes over 3,000 square feet of community space for residents to engage in. 35 parking spaces and 250 bike parking stalls will be provided in a secure garage below the building. 


Design – SERA Architects
Contractor – Pavilion Construction
Underwriter – RBCCM 

Unique Features

The Amy will feature fully furnished units for residents, along with all utilities and WIFI included. Notable project features include a green eco-roof, high-speed internet provided to all units, and five common area amenity spaces that include an outdoor patio with BBQ and fire pit, a lobby area with retractable projector and large communal study tables, and three common floor kitchens with lounges that offer views of downtown Portland.

Building Amenities

Located blocks from PSU campus and the PCC Sylvania shuttle
Ground floor lobby with fireplace, lounge, movie projector, and large study tables
Outdoor courtyard with fire pit and BBQ
230 secure bike parking spaces
32 secure car parking spaces available
Free high-speed WiFi
Three common kitchens with lounges
Package reception and 24/7 on-site staff support 

Apartment Amenities

Fully Furnished Units
All Utilities Included
Free high-speed WIFI
Bike Parking in unit
USB Outlets
Modern finishes
The information was pulled from the following link. The subject on link is subject to change.

See more photos:

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

Wednesday, January 18, 2017

Largest Single-Asset Office Sale 2016 in the Portland Market.

This 4-star, 30 story, 545,000 SF office tower boasts ground-floor retail space, a 410-stall parking garage, 14 passenger elevators, on-site food service and includes  Merrill Lynch, Markowitz Herbold, Williamson & Wyatt, Schwabe, Key Bank of Oregon and Perkins & Company among the tenants. 

Pacwest Center in Portland Sells for $170M

By John Walz
December 21, 2016

The Ashforth Company sold the Pacwest Center office building at 1211 SW 5th Ave. in Portland, OR to LPC Realty Advisors I, Ltd., an affiliate of Dallas-based Lincoln Property Company.

The $170 million price tag, valuing the asset at approximately $312 per square foot, represents the largest single-asset office sale this year in the Portland market.

Ashforth acquired the asset from Meiji Yasuda Life Insurance Co. and Mitsubishi Estate New York, Inc. back in 2007 for $161.5 million ($296 pSF) in an auction sale, according to CoStar data.
See CoStar COMPS #1457075.

Built in 1988, the 30-story, 545,000-square-foot, 4-Star office tower sits on nine-tenths of an acre in the city's CBD submarket. It features ground-floor retail space, a 410-stall parking garage, 11-foot slab heights, 14 passenger elevators, on-site food service, building signage, a WalkScore® of 99 and access to public transit. The asset is 76 percent leased to multiple tenants, including Merrill Lynch, Markowitz Herbold, Williamson & Wyatt, Schwabe, Key Bank of Oregon and Perkins & Company.

The new buyer intends to significantly renovate the tower by modernizing the common spaces, the main lobby and shared amenities.

Nick Kucha and Michael Leggett with HFF represented the seller. The buyer handled the sale in-house.

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

Tuesday, January 17, 2017

ADX- Giving Makers a Space of Their Own, Interview with founder Kelly Roy

I was very impressed with this facility when I toured it with the Oregon Econmic Development Associaton a couple years ago! This interview with founder Kelley Roy gives insite into what inspired her to turn a warehouse into a creative space for Portland's makers.
ADX founder Kelley Roy on giving makers a space of their own
Kelley Roy founded ADX in 2011 as a space where makers could explore the possibility of making a living by practicing their craft.
Dec 15, 2016, 12:29pm PST Updated Dec 16, 2016, 2:59pm PST


Title: Owner and founder, ADX and Portland Made
What: ADX is a cooperative tool warehouse in inner Southeast Portland. Members can use the tools and take classes. ADX also has an in-house manufacturing arm that takes orders. It also serves as an incubator for young manufacturing and apparel companies. Portland Made is a digital storytelling platform for Portland’s makers.
Education: Bachelor’s degree in geology, graduate degree in urban planning.
Fun fact: Roy co-authored “Cartopia,” a book about Portland’s food cart scene. She also wrote “Portland Made,” a book about the city’s makers movement.
Another fun fact: Roy competed as an equestrian as a kid. 

T he woodworkers and welders at ADX constantly create new products. The executive behind the maker space is as creative, just not with a blowtorch and wood lathe. Kelley Roy founded ADX in 2011 as a home for the city’s legions of carpenters and woodworkers. She hasn’t stopped tinkering since. ADX recently opened a retail store. This year she partnered with the Portland Apparel Lab to tap into the city’s robust population of fashion entrepreneurs. She’s also adding a more dedicated incubator space for entrepreneurs and trying to stockpile warehouse space in order to keep a commercial real estate pipeline open for the next generation of manufacturing companies. The Business Journal caught up with Roy by phone this week. Questions and comments have been edited for brevity and clarity. 

         How did you get involved in the maker movement? 

It was a bit of an accident, like all great things in life. My academic background is geology and urban planning. I wanted to go to art school. That was not a practical route, according to my parents. The only companies that came courting (after I got a geology degree) were oil companies. I didn’t have any dreams of working for an oil company. I wanted to be a National Geographic photographer and fly around the world scaling volcanoes and taking beautiful photographs. But I’ve always been surrounded by artists and I just have a huge appreciation for the creative process because it’s not something that comes naturally to me.

         Why’d you study urban planning in graduate school? 

I studied neighborhoods and integrating design and urban planning and master planning and green infrastructure. It was connecting the dots and working with communities and bringing a lot of different things together.
What was the basic idea behind ADX? ADX was founded with the idea of what if you could make a living as an artist or a designer or a maker? Some people aren’t really doing their craft or their art to make a business. Giving people a place to explore it saves them a lot of time and money and heartache. 

         How’d the idea come together? 

In July 2010, I read an article in The New York Times about a place called the 3rd Ward in Brooklyn. It’s no longer around. They had been operating for about five years at the time. It was basically an ADX-like space. It had a big warehouse filled with tools. They had classes. They did events. They had members. It sounded like something Portland would like. When I started looking around, there were a lot of collectives, like woodworkers who work together and share tools, but they were all kind of the same discipline. What I was really curious about is if you provided the space and tools could you get people from all these different disciplines to work alongside each other.
How did you finance ADX? It seems like it would be hard to convince a bank to give somebody cash to buy a warehouse filled with tools. I was super scrappy about it. You can’t be blowing money. You’ve gotta be resourceful. I had a couple folks who believed in me. They saw the potential for it being an economic engine. I had to put everything on the line. 
What have been some of the missteps? 
About a year and a half ago, I basically opened the books to employees and said, OK, let’s look at this. I was trusting my staff and my people to look at the books and look at how the business operates and help me run it. I had lost a couple general managers. Something had to change. They have all stepped up to the plate. They had to learn a lot. Financial literacy in our culture in general is pretty poor. That was probably the scariest, but it turned out to be the smartest. 

         Why is Portland the hub of the makers movement? 

We had a lot of affordable warehouse space close to the city. That’s what allowed it to really flourish in the city itself. The industrial areas are close to where people live and other companies are located. And you just have this spirit in Portland. There’s this pioneering, entrepreneurial, independent, I’m going to do-it-better attitude and this spirit of community and collaboration. Combined those three things create this perfect storm.
That affordable real estate is quickly disappearing. How will the maker movement deal with that? We just launched something called the Industrial Grange. It’s a preservation move. It’s saying, what existing property owners are out there who want to preserve and protect their buildings for makers and how can we work with them to make sure their buildings stay full? 

         Why did you say no to a visit with President Obama? 

I still believe in American manufacturing. It does look different and it would behoove politicians at any level to understand what this new face of manufacturing looks like. I would love to do more tours of spaces with elected officials at every level of government to show them what this looks like. I think we are going to get some manufacturing coming back to the U.S. that’s moved overseas because there’s a lot of issues with production overseas. I would make the same decision again. It gave me a voice and a platform from which to explain what I see. 

         What if Trump calls? 

He wants to bring manufacturing jobs back. I’m not sure he would be welcome in Portland. I don’t know if Portland would have him. If he was able to make it into Portland, just like Obama or any other elected official, I would love to show him what’s happening on the ground.

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

Monday, January 16, 2017

2016 Another Banner Year for Commercial Real Estate

Read the news that most interested the commercial real estate broker community in 2016. 
CoStar is the most comprehensive provider of information, analytics and marketing services to the commercial real estate industry for the Portland Metropolitan Area. It is also the most relied commercial search engine in the US and UK.  Our commercial team is fortunate to have a local representative meet with us weekly for individualized tutorials for using the analytics.

2016 Another Banner Year for Commercial Real Estate

Year's Most Important Commercial Real Estate News as Determined By CoStar Readers
By CoStar News Staff
December 29, 2016

For all its ups and downs, U.S. commercial real estate enjoyed another banner year in 2016, thanks in large part to the unprecedented run in multifamily rents and property values and the fact that the U.S. continues to be viewed as a 'safe haven' by global property investors.
But it was also marked by continued distress in the retail property sector as the 'creative destruction' forces unleashed by Amazon and other internet retailers continued their inexorable impact on traditional bricks-and-mortar stores.

Here is the news reported by CoStar that you, our readers, considered to be the most interesting and newsworthy in 2016:

1. Leadership Transitions Among Top CRE Shops

Changes at the top always garner the most interest among our core CRE readers and 2016 was no exception. Beginning with Marcus & Millichap in March, to Cushman & Wakefield, followed by CBRE in June, JLL in August and Cushman & Wakefield just last October, all made several major changes to their senior leadership lineup during the year:
Nadji to Succeed Retiring Kerin as President, CEO at Marcus & Millichap
Lafitte and Frese Elevated to New Global Group President Positions at CBRE
JLL Implements Leadership Succession Plan: Ulbrich to Succeed Retiring Dyer as Global CRE Firm's Chief Exec
Cushman & Wakefield Realigns Leadership Roles for Top U.S. Execs

2. Macy’s To Close 100 Full-Line Stores

The news that Macy's plans to close another 100 stores caught many by surprise. The move raised a red flag among already-jittery mall investors and signalled a much-more aggressive stance by Macy's CEO Terry J. Lundgren to pursue strategies to unlock more value from the department store chain's real estate.  

3. 'Dual Agency' Transactions Under Scrutiny in California Court Case

CoStar's real estate audience was also very interested in the intrigue over a California court case involving the legal implications of 'dual agency' representation in that state. In a decision with potentially far-reaching impact on how commercial and residential real estate brokerages do business, the California Supreme Court upheld a lower court ruling that a listing broker had a fiduciary responsibility to both the buyer and the seller in a "dual agency" transaction.

4. Economists, CRE Industry Begin to Take Stock of Trump's Election Upset on Property Markets

The surprise election win of real estate developer and reality television star Donald Trump as the next U.S. president set off a bit of a scramble among business leaders grappling with the unexpected economic and regulatory impact of an upcoming Trump presidency. However, the shock of the unexpected election results were quickly replaced by the realization that the same party now controls Congress and the executive branch. The industry is poised to monitor the election's impact in the year ahead with significant changes expected to the tax code as well as U.S. trade policy and rollbacks in the nation’s financial and business regulatory framework.

5. Hines Exploring Potential Sale of Nearly $5 Billion in Holdings

The news of Hines' decision to cash out two of its sponsored REITs and lock-in returns at current property valuations was seen by many as a sign that commercial property markets may be approaching their peak. Hines later went on to strike several major deals with other investors to sell of its holdings. Hines was joined by KBS and NorthStar Realty in putting large portfolios on the block even as a large number of publicly traded REITs including Liberty Property Trust, Kimco and others wound down their aggressive property disposition strategies.

6. US Banks Ratchet Up CRE Lending Standards

Throughout 2016, there was a pitched battle between bank regulators calling for stricter underwriting standards for CRE loans, and lenders competing for business in an increasingly competitive real estate lending environment. Despite federal banking regulators putting banks on notice that they were going to be taking a closer look at CRE loan concentrations, banks continued to pump up their CRE lending, buoyed by continued strong property fundamentals, much to the chagrin of regulators. Stay tuned for CoStar's continued coverage of this important topic in 2017.

7. Open Season on Appraisal Firms as JLL Snaps Up Three More Integra Realty Offices

JLL's plan to add a robust valuation and advisory services business line to match its competitors emerged as the top real estate M&A story line in 2016, with more dominoes expected to fall in this sector in 2017. Insiders widely expect other IRR affiliates to be acquired by larger companies in coming weeks or months. Other M&A news capturing a lot of interest in 2017 included Cushman & Wakefield's acquisitions of Taylor & Mathis in Florida and Atlanta-based Multi Housing Advisors to expand its market share in fast-growing southeastern markets, and Newmark Grubb Knight Frank's bid to add top talent in key markets.

8. Blackstone Seeking to Revive Non-Traded REIT Industry

In a surprising move that could radically reshape the beleagured non-traded REIT industry, the $100 billion behemoth that is Blackstone Real Estate announced plans to launch its first-ever non-traded REIT, seeking to introduce new fee structures and lend its considerable heft to the once-mighty real-estate capital-raising sector.

9. Internet Commerce Drives Strongest Surge in Demand for US Industrial Space Since 2001

Typically outshone by the multifamily and office sectors, warehouse and distribution property saw a lot of the investment and leasing action in 2016. Among the many blockbuster deals, Global Logistic Properties Ltd. agreed to buy a 15-million-square-foot logistics portfolio from Hillwood Development Co. to solidify the Singapore-based company's position as the second-largest owner of industrial property real estate in the U.S. That was followed one week later by Blackstone Group was jumping back into the industrial property space with an agreement to buy 46 logistics properties totaling over 26 million square feet from LBA Realty for a reported $1.5 billion.
"All in all, the last six months have been the best in our company’s history," said Hamid Moghadam, chairman and CEO of San Francisco-based Prologis (NYSE:PLD). "E-commerce and supply chain reconfiguration continue as big drivers of demand for our product. The Class A market is where the action is."

10. WeWork, Other Shared-Office Providers Aiming to Reinvent How Office Leasing Works

CoStar readers were intrigued by the remarkable success of WeWork and other popular shared-office providers, with their ongoing expansions greeted by both confidence and skepticism in the long-term prospects for the concept.

BONUS. Gold Rush: Swelling Numbers of CRE Brokers Making for Tougher Competition in the Ranks

Another interesting if unexpected trend in 2016 was the impact of swelling ranks of commercial real estate brokers, attracted by the recent run in sales and leasing activity. The number of commercial members with less than two years of experience nearly doubled to 9% in 2016. CoStar News shared the perspective of several experienced managers on the impact of the broker boom.
Read more and get all the links at:

For individualized investment advice in the Portland area, contact:
Karen Schaaf ACP, GRI
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon

Saturday, January 14, 2017

Choose Your Adventure Along the Max Orange Line- Portland's South Water Front

                                                    Explore the South Waterfront
Wondering what to do this weekend? Choose an adventure along the Max Orange line.
Get outside- Milwaukes's Riverfront Park, Westmoreland Park, Oaks Bottom Wildlife Refuge, Trolley Trail
Explore- Division/Clinton Disrict, Inner Southeast Portland, Sellwood-Moreland, Tilikum Crosssing Crossing South Waterfront, OMSI, Oregon Rail-Heritage Center

Focus- The South Water Front 
Farmers Market | Food Carts | Aerial Tram | More
Tilikum Crossing’s west landing opens to the bourgeoning South Waterfront district, a collection of towers, shops and public spaces that represent Portland at its most urban (and transit-friendly). This is the intersection of bus, MAX, Portland Streetcar and the Aerial Tram — not to mention world-class pedestrian and bike infrastructure.
As a hub of activity for students and staff at nearby OHSU, it’s no surprise that there are so many options for a good, quick meal. At the South Waterfront/SW Moody Ave MAX Station, Flying Elephants offers everything from treats to drinks to made-to-order meals; down the street, the food carts at The Gantry cater to lunchtime crowds looking for good food and fresh air. Nearby, Scout Beer Garden’s picnic tables and lawn games beckon passersby in search of a pint and some sunshine.
After you’ve filled up, take a ride up to OHSU’s campus in the clouds on the Portland Aerial Tram. The views are spectacular, and the experience is unique — there’s only one other tram like it in the U.S.
Plan you adventure along the MAX Orange line today:

Looking for Real Estate in the Portland area? Contact:
Karen Schaaf ACP, GRI
RE/MAX equity group
Lackman Commercial Group
Licensed in Oregon