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Posts Tagged ‘TMT’

Slalom Consulting, a business & technology consulting firm and its sister company  Two Degrees, a finance & accounting project resources firm opened new offices this week.  The two firms wanted to relocate from the Director Building to Fox Tower in downtown Portland. Given their high growth, they wanted to establish themselves in the Portland area and provide flexibility for additional space. Their move was an expansion and an opportunity to land tenancy in a very popular and nearly 100% occupied office building. The ideal criteria included a combination of office and open floor plans for collaboration, solid infrastructure, nearby retaurants and a convenient location to meet with potential candidates and current clients.

The end result, after nearly 8 months of touring, negotiating terms and reviewing finishes, is a beautiful office divided into two distinct businesses.  The natural light is ushered into the center of the space through floor to ceiling windows and several glass relites on the perimeter conference rooms. Dark, hardwood floors grace the reception area  and hints of chocolate brown are throughout the space for continuity.

There are 4 offices, 4 conference rooms, hoteling stations, open workstations, a breakroom and a production area. The reception area opens to the large conference room with views due east to the Cascades. Other tenants in the building include: UBS, CollegeNet, IdeateHoffman Construction, Moss Adams, Cosgrave Vergeer and the US Secret Service.

Building Name: Fox Tower

Address:  805 SW Broadway, Suite 2500, Portland, OR 97205

Square Feet: 4,882 RSF

Kitchen/Break Room

Hallway lined with glass relites

Reception Wall with Bike Art

Hoteling workstations

Reception EntranceSmall Conference Room with Glass Whiteboard

Reception Area

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Apparently downtown Vancouver is quickly becoming a hotbed of activity for banks. With so many financial institutions making the move into into the core over the last three years (albeit some of them have not survived this past year – Bank of Clark County for one), one might think Vancouver was on track to becoming the “little Delaware “of  the Pacific Northwest.  The latest announcement involving a bank relocation comes from local developer Elie Kassab of Prestige Development (jewelry magnate and father to TMT Development’s President).

Prestige submitted plans to build what looks to become a new bank branch near the Interstate 5 entrance to East Mill Plain Boulevard.  Kassab has not disclosed a name, but has alluded to the project attracting a bank tenant. Prestige plans to build either a one-story, 3,200-square-foot building or a two-story, 6,400-square-foot building at a cost of $700,000 to $800,000.  The project is on the south side of Mill Plain

Like most developers, Prestige expects lower costs on this project as a result of the downturn in constructio and lower materials and labor expenses.

Click here for the full story, http://budurl.com/cc8f

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BACK TO THE DRAWING TABLE FOR PARK AVENUE WEST

The big news late last week was the announcement of the halt on construction for the Park Avenue West Office Tower located across from the downtown Nordstroms. While this news was not entirely unexpected in the commercial real estate community (we have been concerned about financing for months now) it was still a major blow to the positive energy supporting Portland’s steady office market. 

The next question will be whether major law firm and anchor tenant Stoel Rives will remain with the project or pull the trigger on an option to back out of their commitment to lease nearly 160,000 SF in the building. Nike has also committed their new store location to this project and could reconsider as well (perhaps the new Zell space in Pacific Center would be a good alternative?). 

Regardless, it is clear that the developer, TMT, will be removing any reference to “condominium” in the redesign of this project (which will take the building from 32 stories to around 22-25), as that word has become the perverbial “black cloud” in real estate and no doubt a hinderance in securing further financing.

MediaDex (traditional|digital|research)

Central Business District

Steelhead Advertising – The Elizabeth | 333 NW 9th Ave | 2,735 SF

Sasquatch Advertising – Water Tower | 5330 SW Macadam Ave | 2,100 SF

HealthDex (hospital/provider|managed care|equipment)

Eastside

Back in Action PT – 2119 NE Halsey | 1,134 SF

Westside

Dr. Irina Moga – 4970 SW Main St. | Beaverton | 2,478 SF

GeneralBizDex (mgmt consulting|finance|insurance)

Vancouver

Gold Savings Bank – First Pacific Place | 7720 NE Vancouver Mall | 2,626 SF

Eastside

Express Employment Professionals – Gresham Sq | 120 NW Burnside | 1,562 SF

Farmers Insurance – Sayler Building | 10415 SE Stark St | 2,194 SF

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