Presentation Transcript

1. May 6,2013 Market Overview PREPARED FOR The Morgan Building PREPARED BY Josh Schweitz Senior Vice President, Partner 503.221.2297 joshs@kiddermathews.com Travis Parrott Office/Flex Specialist 503.721.2735 tparrott@kiddermathews.com Camille Cettina Client Services Coordinator 503.721.2721 ccettina@kiddermathews.com
2. Our Team Kidder Mathews Kidder Mathews is the largest commercial brokerage firm in the Northwest with over 210 brokers in 9 offices spanning from Seattle / Bellevue to San Francisco, Redwood City and Santa Clara in the Bay Area. KM Valuation Advisory Services has the largest number of MAI appraisers in the Northwest and annually conducts over 1,300 commercial property appraisals, and KM Property Management currently manages over 25 million square feet of commercial property. Annual Transaction Volume $6 billion 3-Year Transaction Total 21.1 million SF Leases Property Management Portfolio: 25.6 Million SF 1,300 Appraisals Per Year
3. Our Team Kidder Mathews Full Service Commercial Brokers Kidder Mathews Commercial Brokerage Services is comprised of over 210 licensed agents who specialize in handling sale and lease transactions of commercial properties throughout the Pacific Northwest. The brokerage division is further divided into 4 primary marketing groups. The Office Group The Industrial Group The Retail Group The Investment/Multi-Family Group
4. Our Team The Team Our team has been formed with different skill sets that compliment a “TEAM” effort to serve out clients.
5. Our Team Josh Schweitz – Senior Vice President / Partner CAR Rookie of the year award. CBRE Rookie of the year award. Costar's top 20 power brokers multiple recipient. Represented 2 of 3 largest office/flex transactions Portland Westside 2003. Represented largest office/flex transaction Portland Westside 2004. Represented largest office transaction 2011. 14th Year in the commercial real estate industry.
6. Our Team Travis Parrott– Office/Flex Specialist Specializes in office leasing and sales. Provides market analysis, brokerage and consulting services for tenants and landlords. Member of Oregon Entrepreneurs Network & United States Tennis Association. As a professional tennis player, played in four major Grand Slam events & won the US Open Major Championship in 2009 in Mixed Doubles.
7. Our Team Camille Cettina – Client Services Coordinator Started her Real Estate career in 2004 and joined Josh at Kidder Mathews in 2011. Provides client brokerage and team support . Professional actor and director – recipient of the Scotsman Fringe First Award in 2009.
8. Our Team Significant Listing Experience
9. Our Team Current Listing Assignments
10. Our Team 2012 - 2013 Transactions Landlord Representation
11. Our Team 2012 - 2013 Transactions Tenant Representation
12. The Project The Project Strengths Great location. Close proximity to restaurants, shops, retail and Nordstrom. Easy access to the MAX& Bus lines. Well known historic building. Operable Windows. Good natural light in most suites. Parking available within the building. Good bike parking and access into the building. Showers & lockers.
13. The Project The Project Weaknesses Stale marketing. Perception of lack of cool/creative space. Lack of the ability to open the ceiling grid. Dated/Traditional finishes.
14. The Project The Project Recommendations Complete lobby remodel quickly, including lighter tile surrounding carpet. New contemporary hallway sconces and ceiling tiles throughout floors with vacancy. Consistency of hanging lobby lights throughout building. New electrical face plates in the vacant suites. New “framing” around HVAC units in all of the vacant suites. New ceiling tiles in all of the vacant suites. Consider painting dark hardwood trim white. Consider replacing the dark hardwood doors throughout the vacant suites. Consider new brushed nickel hardware as a building standard. Consider replacing exterior suite entry doors with new brushed nickel hardware.
15. The Project The Project Recommendations Complete lobby remodel quickly.
16. The Project The Project Recommendations New contemporary hallway sconces and ceiling tiles throughout floors with vacancies.
17. The Project The Project Recommendations Consistent & contemporary lobby lights from floor to floor.
18. The Project The Project Recommendations New electrical face plates in the vacant suites.
19. The Project The Project Recommendations New “framing” around HVAC units in all of the vacant suites.
20. The Project The Project Recommendations New ceiling tiles in all of the vacant suites.
21. The Project The Project Recommendations Be willing to paint all dark hardwood trim white as desired by Tenant.
22. The Project The Project Recommendations Be willing to replace new doors - replacing the dark hardwood doors throughout the vacant suites.
23. The Project The Project Recommendations Consider new brushed nickel hardware as a building standard for interior and exterior doors.
24. The Project The Project Recommendations – Suite 210 Consider painting wood trim to white (See suite 720). Specout with new carpet (or at a minimum a small section in the suite). Consider replacing hardware with brushed nickel. Leave checkered walkway and carpet around it - will leave a cool/creative/ historic aspect to the space.
25. The Project The Project Recommendations – Suite 630 Ensure new tiles and T-5 lights. Consider painting wood trim to white (See suite 720). Consider replacing hardware with brushed nickel.
26. The Project The Project Recommendations – Suite 720 Shows as well as it can. Frame out new “discovered” window. Ensure new tiles and T-5 lights.
27. The Project The Project Recommendations – Suite 750 Demo selected walls. Ensure new tiles and T-5 lights. Consider painting wood trim to white (See suite 720). Spec out with new carpet (or at least a section in new carpet). Consider replacing hardware with brushed nickel.
28. The Marketing Best in Class Brokerage Services Marketing Flyer Usually we do not have direct contact with the prospects. We have one 15-second opportunity to make a great impression and ultimately make the Tenant’s shortlist of spaces to tour. Great pictures. Clear and concise map. When possible a complete set of space plans located on the marketing flyer.
29. The Marketing Best in Class Brokerage Services Space plans Clear and accurate space plans. Formatted in our Kidder Mathews standard format.
30. The Marketing Best in Class Brokerage Services Great Broker Relations Our team has a consistent positive reputation throughout the brokerage community. Responsive. Driven. Ethical. We welcome you to contact other brokers within the brokerage community.
31. The Marketing Best in Class Brokerage Services Comprehensive Cost Analysis Cost Analysis Procalc
32. The Marketing Reenergize & Reintroduce the Building Broker open house walk through after completion of building upgrades. $100 for qualified broker tours - $50 to the prospect & $50 to the broker (The # 1 most important thing is to make the tour list!). Confirm a full 5% fee to the outside broker.
33. The Marketing Team Prospecting Cold Calling – Travis Parrott Database Canvassing – Have each individually walked every building in the CBD. Subgroups
34. The Market Tenants in the Market Kidder Mathews Office Group Our office practices group shares information to track as many requirements in the market as possible.
35. The Market Vertical Emails and Completed Deals Kidder Mathews Office Group Our offices practices group tracks all vertical emails to try to identify the Tenants in the market.
36. The Market Landscape Maps Specifically created by our Team, these maps help quantify blocks of space over 5,000 SF helping our team stay on top of the competition for our Landlords. Class A Downtown Class B Downtown Class C Downtown Class A Northwest Portland Class B & C Northwest Portland
37. The Market Competition Suite 200/210 (7,605 SF) Director Building Grand Stable & Carriage Building Historic US National Bank Block Pacific Building Commonwealth Building
38. The Market Competition Suite 200/210 (7,605 SF) Director Building – 8,785 SF. A full floor opportunity seeking $24.00+ per SF. (NB&S) Grand Stable & Carriage – 7,980 SF. A full floor opportunity marketed at $24.75 per SF on the 2nd Floor. (Colliers) Historic US Bank Building – 9,541 SF. A full floor opportunity marketed at $25.00 per SF on the 6th Floor. (CBRE) Pacific Building – 6,000 -14,000 SF. A sublease full floor opportunity that is divisible marketed at $22.50 per SF. (Cushman & Wakefield) Commonwealth – 8,000 SF. A not so desirable suite on the 2nd floor which could be more aggressive on rate. (JLL) Spalding Building – Four competing suites as you know. (Colliers)
39. The Market Competition Suite 630 (3,450 SF) & 720 (3,629 SF) 620 Building Director Building Jackson Tower Pacific Building Cascade Building Historic US National Bank Block
40. The Market Competition Suite 630 (3,450 SF) & 720 (3,629 SF) 620 Building – 2,964 SF. Nice views with three sides of glass on the 9th floor. (JLL) Director Building – 3,822 SF. Located on the 6th floor. Rate not on flyer but looking to do deals at $22.00+ per SF Historic US Bank Block – Three suites in this range (3,573 SF, 4,438 SF, and 3,670 SF) located on the 4th floor and the 8th floor. (CBRE) Jackson Tower – 3,355 SF. Full floor opportunity located on the 10th floor. Looking to do deals at $22.00-$23 .00per SF. (Kidder Mathews) Pacific Building – 3,555 SF. Located on the 10th floor with views of Mt. Hood marketing at $18.00-$24.00 per SF. (Gray Company) Cascade Building – Two suites in this size range (3,031 SF and 3,528 SF) located on floors 10 and 11. No rates marketed but looking to do deals between $19.00-$21.00 per SF. (Kidder Mathews)
41. The Market Competition Suite 750 (5,036 SF) American Bank Building Director Building Historic US National Bank Block Pacific Building 620 Building
42. The Market Competition Suite 750 (5,036 SF) American Bank Building – Two suites near 6,000 SF. Located on the 5th floor and 10th floor. Looking to do deals between $22.00-$23.00 per SF. (Kidder Mathews) Historic US Bank Building – Three competing suites in this range located on the 4th floor and the 6th floor. (CBRE) 620 Building – 5,600 SF. Located on the 10th floor and marketed between $19.50-$21.50 per SF. (JLL) Director Building – 4,746 SF. Located on the 5th floor. No rates marketed, but looking to do deals at $22.00+ per SF. (NB&S) Pacific Building – 6,000 -14,000 SF. A sublease full floor opportunity that is divisible marketed at $22.50 per SF. (Cushman & Wakefield)
43. The Choice Why Team Schweitz, Parrott, Cettina... Because you deserve: Updated market knowledge Solid broker relations Deal making Trust ENERGY We’re Ready To Go To Work!