Dex One leases 6,508 square feet, including storefront
September 25, 2010Dex One, the telephone directory service, leased 6,508 square feet at Vancouver’s Columbia Tech Center for its first-ever customer service center.
The new location will combine a Dex One office with a storefront where company and consumers can consult with Dex One about on-line, print and other advertising products.
The new store opened Sept. 20.
Tamara Fuller of NAI Norris, Beggs & Simpson represented the tenant.
Office
• Intel Corp. extended its lease for 70,999 square feet at Ronler Corporate Middle, 23215 N.W. Evergreen Parkway, Hillsboro. Brad Fletcher of Grubb & Ellis Co. represented the tenant.
• DSI Renal Inc. leased 9,295 square feet at Woodside Corporate Park, 15050 S.W. Koll Parkway, Beaverton. Josh Williams of Colliers International represented the tenant; Brandon Frank, Eric Haskins and David Squire of Grubb & Ellis Co. represented the property.
• Seattle Northwest Securities Corp. leased 7,276 square feet at Wells Fargo Center, 1300 S.W. Fifth Ave., Portland, from Wells Fargo Bank N.A. Tom Remley of Grubb & Ellis Co. represented the tenant; Tom Fellman of CB Richard Ellis represented the property.
• Fidelity National Title of Oregon leased 6,490 square feet at WaterPlace, a new Salem development at 500 Liberty St. S.E., from Liberty Ventures LLC. Ryan Tiernan of Orion Realty and Mitch Teal of Commercial Investment Associates represented the tenant; Curt Arthur and Jennifer Martin of Sperry Van Ness Commercial Advisors represented the property.
• The Salem-Keizer Transit District sub-leased 6,400 square feet from Lawyers Title at 925 Commercial St. S.E., Salem. Curt Arthur of Sperry Van Ness Commercial Advisors represented the tenant; Jennifer Martin of Sperry Van News and Orion Realty represented the property.
• The General Automotive Building, a warehouse converted to office space on Portland’s North Park Blocks by Spokane-based Conover Bond Development, has signed several new tenants. SwellPath Interactive, a digital marketing agency, leased 4,200 square fee and Network Redux, a web hosting service, leased 1,565 square feet; Joe Beehler, Ryan Pennington and Josh Williams of Colliers International represented the property in both transactions.
• Raven.Me LLC subleased 5,400 square feet at Austin Plaza, 517 S.W. Fourth Ave., Portland, from Fluid Market Strategies. Kristin Hammond of Pacific Real Estate Partners represented the tenant; Kevin Joshi and Josh Schweitz of GVA Kidder Mathews represented the property.
• Ticor Title Insurance Co. leased 5,115 square feet at 5800 Meadows Road, Lake Oswego, from Shorenstein Realty Services L.P. Brandon Frank of Grubb & Ellis Co. represented the tenant; Buzz Ellis and Jeff Sholian of Pacific Real Estate Partners represented the property.
• Nike Inc. leased 1,940 square feet at Woodside Corporate Park, 15125 S.W. Koll Parkway, Beaverton. Brad Fletcher of Grubb & Ellis Co. represented the tenant; Brandon Frank, Eric Haskins and David Squire of Grubb & Ellis Co. represented the property.
Retail
• The Portland Winterhawks Hockey Club leased 30,976 square feet for an ice arena at Valley Plaza Shopping Middle, 9230 S.W. Beaverton-Hillsdale Highway, Beaverton. Nathan Sasaki of Apex Real Estate Partners represented the tenant; Dean Wier and Anhtuan Huyhn of Norris & Stevens Inc. represented the property.
• JP Morgan Chase Bank leased 5,630 square feet at 1035 N.W. Lovejoy St., Portland, from Block 9 LLC. Colleen Colleary of GVA Kidder Mathews represented the tenant; Kathleen Healy and Craig Sweitzer of Urban Works Real Estate represented the property.
• Unitus Community Credit Union leased 4,534 square feet at Peterkort Towne Square, 11198 S.W. Barnes Road in Portland. Eric Haskins of Grubb & Ellis Co. represented the tenant; Matt Sichel of Elliott & Associates represented the property.
Industrial
• US Mat Systems LLC leased 61,700 square feet at 2515 N.E. Orchard Ave. McMinnville, from Parallel Ventures. Irfan Tahir of Grubb & Ellis Co. brokered the deal.
• Partners on Demand Inc., a commercial printing firm, leased 41,141 square feet at Millikan 73, 13955 S.W. Millikan Way, Beaverton. David Reinhart of CresaPartners represented the tenant; Eric Haskins and Jake Lancaster of Grubb & Ellis Co. represented the property.
• orpac Foods leased 30,800 square feet at Salmon Run Industrial Park, 1750 McGilchrist S.E., Salem. Curt Arthur of Sperry Van Ness Commercial Advisors represented the tenant; Terry Hancock of Prudential Commercial represented the property.
• MQI Inc., a document storage and records management firm, leased 25,000 square feet at Millikan Business Middle, 14523 S.W. Millikan Way, Beaverton. Tyler Sheils of Grubb & Ellis Co. represented the tenant; Dave Kotansky of Felton Properties represented the property.
• Solestruck, an online shoe seller, leased 12,000 square feet at Oregon Company Park 1, 16350 S.W. 72nd Ave., from Pacific Realty Associates. Tyler Sheils of Grubb & Ellis Co. represented the tenant.
Source: Portland Business Journal
Dex One leases 6,508 square feet, including storefront
Dex One, the telephone directory service, leased 6,508 square feet at Vancouver’s Columbia Tech Center for its first-ever customer service center.
The new location will combine a Dex One office with a storefront where company and consumers can consult with Dex One about on-line, print and other advertising products.
The new store opened Sept. 20.
Tamara Fuller of NAI Norris, Beggs & Simpson represented the tenant.
Office
• Intel Corp. extended its lease for 70,999 square feet at Ronler Corporate Middle, 23215 N.W. Evergreen Parkway, Hillsboro. Brad Fletcher of Grubb & Ellis Co. represented the tenant.
• DSI Renal Inc. leased 9,295 square feet at Woodside Corporate Park, 15050 S.W. Koll Parkway, Beaverton. Josh Williams of Colliers International represented the tenant; Brandon Frank, Eric Haskins and David Squire of Grubb & Ellis Co. represented the property.
• Seattle Northwest Securities Corp. leased 7,276 square feet at Wells Fargo Center, 1300 S.W. Fifth Ave., Portland, from Wells Fargo Bank N.A. Tom Remley of Grubb & Ellis Co. represented the tenant; Tom Fellman of CB Richard Ellis represented the property.
• Fidelity National Title of Oregon leased 6,490 square feet at WaterPlace, a new Salem development at 500 Liberty St. S.E., from Liberty Ventures LLC. Ryan Tiernan of Orion Realty and Mitch Teal of Commercial Investment Associates represented the tenant; Curt Arthur and Jennifer Martin of Sperry Van Ness Commercial Advisors represented the property.
• The Salem-Keizer Transit District sub-leased 6,400 square feet from Lawyers Title at 925 Commercial St. S.E., Salem. Curt Arthur of Sperry Van Ness Commercial Advisors represented the tenant; Jennifer Martin of Sperry Van News and Orion Realty represented the property.
• The General Automotive Building, a warehouse converted to office space on Portland’s North Park Blocks by Spokane-based Conover Bond Development, has signed several new tenants. SwellPath Interactive, a digital marketing agency, leased 4,200 square fee and Network Redux, a web hosting service, leased 1,565 square feet; Joe Beehler, Ryan Pennington and Josh Williams of Colliers International represented the property in both transactions.
• Raven.Me LLC subleased 5,400 square feet at Austin Plaza, 517 S.W. Fourth Ave., Portland, from Fluid Market Strategies. Kristin Hammond of Pacific Real Estate Partners represented the tenant; Kevin Joshi and Josh Schweitz of GVA Kidder Mathews represented the property.
• Ticor Title Insurance Co. leased 5,115 square feet at 5800 Meadows Road, Lake Oswego, from Shorenstein Realty Services L.P. Brandon Frank of Grubb & Ellis Co. represented the tenant; Buzz Ellis and Jeff Sholian of Pacific Real Estate Partners represented the property.
• Nike Inc. leased 1,940 square feet at Woodside Corporate Park, 15125 S.W. Koll Parkway, Beaverton. Brad Fletcher of Grubb & Ellis Co. represented the tenant; Brandon Frank, Eric Haskins and David Squire of Grubb & Ellis Co. represented the property.
Retail
• The Portland Winterhawks Hockey Club leased 30,976 square feet for an ice arena at Valley Plaza Shopping Middle, 9230 S.W. Beaverton-Hillsdale Highway, Beaverton. Nathan Sasaki of Apex Real Estate Partners represented the tenant; Dean Wier and Anhtuan Huyhn of Norris & Stevens Inc. represented the property.
• JP Morgan Chase Bank leased 5,630 square feet at 1035 N.W. Lovejoy St., Portland, from Block 9 LLC. Colleen Colleary of GVA Kidder Mathews represented the tenant; Kathleen Healy and Craig Sweitzer of Urban Works Real Estate represented the property.
• Unitus Community Credit Union leased 4,534 square feet at Peterkort Towne Square, 11198 S.W. Barnes Road in Portland. Eric Haskins of Grubb & Ellis Co. represented the tenant; Matt Sichel of Elliott & Associates represented the property.
Industrial
• US Mat Systems LLC leased 61,700 square feet at 2515 N.E. Orchard Ave. McMinnville, from Parallel Ventures. Irfan Tahir of Grubb & Ellis Co. brokered the deal.
• Partners on Demand Inc., a commercial printing firm, leased 41,141 square feet at Millikan 73, 13955 S.W. Millikan Way, Beaverton. David Reinhart of CresaPartners represented the tenant; Eric Haskins and Jake Lancaster of Grubb & Ellis Co. represented the property.
• orpac Foods leased 30,800 square feet at Salmon Run Industrial Park, 1750 McGilchrist S.E., Salem. Curt Arthur of Sperry Van Ness Commercial Advisors represented the tenant; Terry Hancock of Prudential Commercial represented the property.
• MQI Inc., a document storage and records management firm, leased 25,000 square feet at Millikan Business Middle, 14523 S.W. Millikan Way, Beaverton. Tyler Sheils of Grubb & Ellis Co. represented the tenant; Dave Kotansky of Felton Properties represented the property.
• Solestruck, an online shoe seller, leased 12,000 square feet at Oregon Company Park 1, 16350 S.W. 72nd Ave., from Pacific Realty Associates. Tyler Sheils of Grubb & Ellis Co. represented the tenant.
Source: Portland Business Journal
Zillow, Media General expand real estate marketing agreement Read more: Zillow, Media General expand real estate marketing agreement
Media Common Inc., the parent company of the Tampa Tribune and WFLA-Channel 8, has expanded its partnership with real property marketing organization Zillow.com that will permit real property listings to go beyond the newspaper web sites and onto tv web sites.
This may make Media Common the first member from the Zillow Newspaper Consortium — which the Tribune joined in 2008 soon after it formed — to use branded advertising via its tv station sales teams.
With the deal, Advertising General’s broadcast websites will now consist of ZIllow’s search functionality exactly where users can enter a home address, neighborhood or locality and find estimated house values, recently sold homes, houses for sale, houses for rent, open house listings and local marketplace information.
Marshall N. Morton, Media General’s chief executive officer, stated in a release that his organization has been a consistent sales leader for Zillow products at its every day newspapers.
WFLA has already been offering Zillow goods, together with Advertising General-owned stations in Richmond, Va., and Winston-Salem, N.C., where the company has converged operations, stated Ray Kozakewicz, a spokesman for Advertising Common. Those offerings will now broaden to the company’s 15 remaining stations.
Advertising General (NYSE: MEG) reported a $4.3 million, or 19 cents per share, loss within the second quarter, on revenue of $166.2 million compared having a $20.6 million, or 90 cents per share, gain the 12 months before on income of $163.4 million.
Broadcast revenues within the quarter, particularly at WFLA, were up from $64.1 million to $72.5 million, largely from increases in political advertising spending. WFLA had a 17 % boost in marketing revenue within the quarter.
Advertising Common shares were trading at $8.93 just before 2:30 p.m. Thursday, down almost 2 % from Wednesday’s close of $9.09. Shares have traded in between $7.24 and $13.60 over the past 12 months having a marketplace cap of $206 million.
Source: Tampa Bay Business Journal
If You Want To Reduce Unemployment, Then Rebuild This Real Estate GSE Nightmare
September 24, 2010If you need to reduce unemployment within the United states then action, not double-talk, is required in Washington. And the best way to begin taking motion to stimulate our economy is through immediate legislation that abolishes Fannie Mae and Freddie Mac and replaces the GSEs with a new entity called the Federal Mortgage Safety Guaranty Corporation. And this means that Congress, the Treasury, and the Fed require to obtain their acts in order now. There’s no cause to wait any longer Country House Plans.
Mortgage debt within the U.s. is $10 Trillion of which about fifty percent is presently becoming managed by the Government (through the GSEs, FHA, VA, Ginnie Mae) and fifty percent by private sector banks. Despite the horrific manner in which mortgage loan debt has been handled within the past, it’s time to recognize that we have already paid most of the bill for our past mistakes. And now it’s time to move on.
Mortgage loan debt does not have to be poor financial debt. Actually, most of the mortgage debt within the U.s. is good debt. Over the past three years, such as the interval encompassing the entire interval from the Greatest Recession Since the Great Depression, ninety % of those who had mortgage loan debt continued to make their principal and interest payments month right after month, keeping their loans present. In other words, much more than ninety percent of Americans continued to honor their debt obligations throughout our Great Recession. Currently, right after removing lots of the bad financial debt, that percentage has increased to represent almost ninety-five percent of our remaining mortgage loan financial debt obligations.
Like mortgage loan debt, a U.S. guaranteed mortgage-backed safety also does not need to be a bad safety. I know simply because a great portion of my professional career in finance dealt with mortgage-backed securities. For a twelve-year period (1988-2000), including the interval covering the S&L crisis, I lead the PricewaterhoueCoopers’ team that was responsible for monitoring the risk of $600 billion of mortgage-backed securities at Ginnie Mae.
How does a mortgage-backed safety work? Here is a two sentence primer that fundamentally explains it all. When a mortgagor originally gets, for example, a 5.5% mortgage, it’s quickly packaged and bundled with other 5.5% mortgages and put into a security that is then sold to an investor who will collect interest on that safety at a 5.0% rate. The remaining 0.5% that the mortgagor pays is used to cover the costs of servicing the loan, foreclosures, and to make a reasonable profit for the entity that issues the safety.
A U.S. guaranteed mortgage-backed security indicates that an investor is assured to receive proper principal and interest payments as the loan is paid down. If the loan defaults or is put into foreclosure, the investor is still guaranteed to recover the remaining principal associated with that loan.
The Great Recession did not come about simply because we “eased credit in terms of rates” like many economists like to claim, but because we “eased credit to people that did not deserve credit.” And there’s a big, big difference between those two different ways of easing.
Every risk manager of mortgage debt worth a grain of salt knows that certain fundamental financial principals should be followed before issuing mortgage credit. A couple from the much more standard principals are: (1) the ratio of annual mortgage principal and interest payments should not exceed 31% of a mortgagor’s income; and (2) the ratio of total overall annual financial debt payments, including that of mortgage debt, should not exceed 38% of a mortgagor’s income. A large part of what happened in the 2000s is that both the GSEs and the banks ignored these principals, and believe it or not, mortgage debt was issued without asking what kind of income the borrower was making.
Every risk manager of mortgage loan financial debt worth a grain of salt also knows that ARM loans and other such type of “funny” loans, used to qualify borrowers that could not get the same loan under a fixed rate, are also high risk loans. In fact, history has shown that ARM loans prove to be more risky than fixed rate loans even before ARM loans even get readjusted right after their low-rate grace interval. Unlike the GSEs and the private banks, the FHA and the VA learned of ARM loan risk a long time ago and essentially shutdown their ARM programs long before the Great Recession.
Who are the investors that presently own the $10 Trillion of U.S. mortgage loan debt? A number of people own that debt, including the U.S. taxpayer, China, Japan, pension programs, banks, private individuals—the list goes on and on. And do you know what? Not a single one of those financial debt “investors” lost a single dime these previous few years while collecting an annual average return of much more than 5.0% on their mortgage loan safety investments. That is a 5.0% return on a guaranteed risk-free investment when inflation has been less than 2.0% if not nil.
Now here is what needs to become done to stimulate the economy and decrease unemployment. For every one of those ninety to ninety-five percent of mortgagors that are present on their financial debt, who have a mortgage loan on their primary home under $500,000, the Government should immediately offer to refinance the “existing” loan amount on that primary home at 4.0% fixed rate (without allowing any cashouts). This guarantee should flow through the solid checks using a new underwriting system developed especially for the new Federal Mortgage loan Safety Guaranty Corporation. Believe it or not, with technology, this could be done fairly quickly, and we have already waited longer than we should have to put this motion in motion.
As part of this refinancing effort, pay off the investors who own the securities associated with the current mortgage and issue new securities at 3.5%. This is a common refinancing practice that has been going on for more than twenty years and investors are fully aware of the practice.
Now if China, Japan, the individual investor does not wish to renew their debt investments by buying these new U.S. guaranteed securities, which most of them will, then okay, let the U.S. Government purchase them. Remember, this is risk free debt backed with substantiation (i.e., debt to individuals that have already proven that they pay their debts all through a very serious recession). Long term inflation within the U.S. for a number of various reasons is very likely to remain low and a 3.5% risk free interest rate on a U.S. guaranteed safety is more than justified and still represents a credit-worthy hedge against inflation.
Refinancing $9.0 Trillion of mortgage financial debt down to 4.0% from what is now on average 5.5% will reduce American mortgagor annual housing payments by $100 billion. And this $100 billion will provide an instant and ongoing stimulus to our economy, and unlike Government spending or tax reductions, it will not adversely affect the Federal Budget.
Some of my critics say, mortgage loan rates are already becoming offered at 4.0%, so what is so new about what you are professing? My response is this: (1) no cash outs; (2) “every primary” home with a mortgage loan under $500,000 that has a proven track record of current payments “without questioning presently assessed values”; (3) continued Government guarantees for those loans; and (4) offer only fixed rate refinancing.
Now Washington, if you want to find consensus for my approach, don’t bother talking to three different economists (you’ll get four different responses)! And that has been half of your problem. Instead start listening to those ninety-five % of homeowners out there with a mortgage that still wish to believe in their country and who have proven so by honoring their debt responsibilities. As I have said many times before, those are the people that are the true heroes of our recovery, and it is long past time that we reward them.
So my question for you, Washington, is this: How much longer is going to take for you to obtain your act in order?
Source: Business Insider News
Northern Colorado Real Estate Conference envisions 2030
Rather than take a chronological approach to the future of Fort Collins and Northern Colorado for the 14th annual Northern Colorado Real Property Conference, experts began with the year 2030 and worked backward Thursday morning for “Reality Check 2011″ hosted by CSU’s College of Company Everitt Real Property Center. There had been numerous various scenarios that played out, from huge population growth to limited gross metro production, but the takeaway was company leaders and city officials control what Fort Collins will look like 20 years from now.
Steven Laposa, director of the Everitt Genuine Property Middle, led the morning off having a presentation titled “Are You Poised for the Next 20 Years?” with a look at 27 different cities that resembled Fort Collins in 1980 and 1990 and then exploring what those metropolitan areas appear like these days primarily based off of population, households, GMP, retail and office.
The interactive process let audience members hand choose what they liked and disliked about these communities and shaping what Fort Collins could look like in 2030. Colorado Springs was a city that resembled Fort Collins in 1980 and Durham-Chapel Hill, NC was on the checklist of similar communities in 1990.
“Think that it already exists and work backwards,” stated Laposa, who had narrowed the list of comparable cities from 363 cities based on various information.
Laposa selected Ann Arbor, Mich., Eugene-Springfield, Ore, Durham-Chapel Hill, NC and Tallahassee, Fla. as metropolitan areas that matched the center’s criteria for well rounded growth for Fort Collins.
Source: Coloradoan News
