A Night of in Commercial Real Estate
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PRESENTED BY MARCH 06 2020 A NIGHT OF EXCELLENCE IN COMMERCIAL REAL ESTATE HONORING COMMERCIAL REAL ESTATE’S GREATEST ACHIEVEMENTS 2019 of SIGNATURE RECEPTION SPONSOR SPONSOR GOLD SPONSORS CHARITY PARTNER SILVER SPONSORS BRONZE SPONSORS 2 A NIGHT OF EXCELLENCE IN COMMERCIAL REAL ESTATE FROM YOUR LEADERS NICK JODY nightSTANTON of excellenceCIENFUEGOS CAB PRESIDENT NAIOP PRESIDENT, OREGON CHAPTER Welcome CAB, NAIOP & SIOR Members & Guests to “A On behalf of NAIOP’s membership we are honored to Night of Excellence”, a chance to recognize the best of the once again collaborate with CAB and SIOR in sponsoring of the commercial real estate industry in 2019. We are the 2020 “A Night of Excellence in Commercial Real excited for our new host location at the Sentinel Hotel and Estate”. This event recognizes the leaders in our industry to ring in a new decade with our valued members and guests. I am truly humbled by showcasing the outstanding projects and professionals that make this region to be serving as president of CAB and I look forward to growing CAB in both social great. We have be fortunate to enjoy another remarkable year! Come help us and educational aspects. In addition to the Night of Excellence your membership celebrate the nominees and give back to the community with our philanthropic with CAB includes access to a multitude of professionally collaborated forms and partner Habitat for Humanity. continuing education hours, as well as access to special events and programs? Take NAIOP, the Commercial Real Estate Development Association, is the leading advantage of your membership and get all that you can out of your dues! organization for developers, investors, owners & operators, brokers, and related I want to thank the CAB Committee and past presidents, most recently Irfan professionals in office, industrial and mixed-use real estate. The Oregon chapter of Tahir, for building our CAB organization and turning it into what it is today; an NAIOP, totaling 300 members, is one of more than 50 chapters throughout the U.S. advocate for issues related to commercial real estate, a philanthropic partner and, and Canada, with corporate headquarters in Washington, D.C. last but not least, a resource for education. CAB’s mission is “Educate. Advocate. NAIOP’s focus is to ensure a vibrant and sustainable commercial real estate Connect.” And we want to hear from you as to how we can do that better. industry by providing strong government advocacy and serving as a platform for This year’s Night of Excellence is benefiting Habitat for Humanity. Your donations commercial real estate professionals to connect and learn from one another. NAIOP help families find stable and affordable housing in the Portland Metro area. Since benefits its members by creating a sense of community with a dedicated board of 1981 Habitat for Humanity Portland has helped over 1,700 people right here in the directors, active committees and engaged members who work to track and support Portland area to find or repair their homes and is looking forward many more years of legislative issues, provide quality educational programs and organize networking service with the goal of tripling the number of people they serve year-over-year. opportunities. Thank you to our partners NAIOP & SIOR, teamwork makes dreams work! And The benefit for NAIOP members is the strongest unified voice advocating for thank you to our sponsors, over 700 members & guests. Lastly, congratulations to sound commercial real estate practices in the region through relationships with all of the nominees. In a field of true professionals you have risen to the top and we elected officials and policy makers, supporting economic development efforts and want to congratulate you on your nomination. communicating with municipal stakeholders. TYLER J. SUSAN SHEILS STEWARD SIOR OREGON CHAPTER PRESIDENT EXECUTIVE DIRECTOR, BOMA OREGON The Society of Industrial and Office Realtors (SIOR) BOMA Oregon is delighted to be a part of this very special organization is proud to be a returning sponsor of “A event. The 2020 Night of Excellence recognizes leaders Night of Excellence in Commercial Real Estate” alongside in the real estate industry – highlighting the exceptional NAIOP and CAB to acknowledge our industry leaders and leadership of commercial real estate professionals their greatest accomplishments in 2019. throughout Oregon. I’m looking forward to serving as the SIOR Oregon/SW Washington Chapter The Building Owners and Managers Association of Oregon has been a part of the President for 2020 and I’m honored to work alongside a group of commercial real real estate industry for 104 years! We are honored to stand beside our counterparts estate professionals who set such a high standard of excellence for the community. to celebrate another successful year in the commercial real estate industry. BOMA Our expert network of peers both locally and around the globe allows us to stay Oregon represents over 54 million of commercial real estate throughout the state. ahead of the curve on relevant topics that matter most to our clients. Our mission is to promote commercial real estate through leadership, networking, Our local chapter represents over 40 of today’s most knowledgeable, advocacy and professional development opportunities within the commercial real experienced, and successful commercial real estate brokerage specialists in estate industry. our region and together we can make a real impact on the industry. Real estate BOMA Oregon values the differences in our membership; and recognizes that our professionals who have earned the SIOR designation are recognized by corporate diverse ideals add value to the organization. We are committed to diversity, equity real estate executives, commercial real estate brokers, agents, lenders, and and inclusion throughout our work. Our members, volunteers and staff continuously other real estate professionals as the most capable and experienced brokerage strive for a diverse membership focusing on mutual growth and respect. We foster a practitioners in any market. culture where difference matters, and all are supported. Huge congrats to all the award winners and nominees recognized tonight—and Delighted the planning committee is supporting Habitat Humanity in 2020, thanks to our fellow sponsors. We’re looking forward to a powerful 2020! and we are pleased the proceeds from this amazing evening supports a wonderful cause. On behalf of the BOMA Oregon Board of Directors, thank you to the sponsors, members and guests. Congratulations to all the nominees! CAB, NAIOP, SIOR, BOMA PORTLAND BUSINESS JOURNAL HONORED THE COMMERCIAL REAL ESTATE INDUSTRY’S GREATEST ACHIEVEMENTS OF 2019 ON MARCH 5THand 2020, the AT THE SENTINEL HOTEL. MARCH 6, 2020 3 DEVELOPMENT AWARDS DENNEY ROAD COMMERCE CENTER HARSCH INVESTMENT PROPERTIES INDUSTRIAL nightDEVELOPMENT OF THE YEARof excellence Located along Highway 217 in Beaverton, Oregon, Denney Road Commerce Center features five light industrial buildings totaling 218,569 square feet on 21.01 acres, including 4.25 acres of wetland. Harsch Investment Properties acquired the site from Mercer Industries in 2017 and immediately began a multimillion-dollar renovation of the aging industrial property. The existing industrial buildings and exterior support yards were constructed in several phases over the last 60 years and consisted of tilt up concrete perimeter walls with industrial grade concrete or asphalt flooring. The site is bounded by Denney Road on the north, Fanno Creek Natural Area to the west, and Highway 217 and a railroad right-of-way to the east. The original buildings were constructed “dock high”, generally four feet above finished grade, with each building intended to be occupied by a single tenant. Prior to the acquisition, Denney Road was home to heavy users in recycling, automotive, and window manufacturing. In order to attract new tenants and transform the property into a multi-tenant industrial park, VLMK Engineering + Design and Perlo Construction began with general site improvements to appeal to more customer-facing tenants. New asphalt was placed throughout the property after extensive groundwork to address unsuitable soil conditions. New dock aprons were added, as well as all new utility connections, retaining walls, and LED lighting throughout the site. Building improvements in all five buildings include a new three tone paint scheme, articulation using new cornices at the top of the wall, new fenestrations, projections and canopies at storefront entries, and new landscape areas scattered throughout the interior of the park and concentrated generally around proposed office entries and parking areas. Building improvements on Buildings 1, 2 and 4 include all new slab on grade floors, glazing, added dock and drive-in doors, and new roofs and insulation on over half the project. This property features approximately 375 parking stalls and 46 dock doors. Current tenants include NessCampbell Crane & Rigging and Tillamook Country Smokers. The improvements Harsch made extends the life of the park by decades and anchors Beaverton’s industrial capacity along the 217-Corridor. Beaverton’s six million square-foot industrial market does not have greenfield sites for development, making re-investment all the more important. The industrial vacancy rate in Beaverton is only 3.6%, which is less than half of the ten-year average of 8.1%. Leasing to date in Denney Road Commerce Center has resulted in almost 90,000 square feet of net absorption. The leasing