Archive for category Vancouver Washington Commercial Real Estate
Vancouver, WA Commercial Real Estate: 192nd Avenue Station Triggers Building Revival
Posted by Tom Smith in Vancouver Washington Commercial Real Estate on January 6, 2012
Here’s a nice piece The Columbian did on the 192nd street project in Vancouver, WA. The story is reported by Columbian Staff Reporter Cami Joner with pictures by Steven Lane.
Brenden Hogberg from A Lite Construction uses a riding power trowel on fresh concrete at the construction site for 192 Avenue Station, a new retail center being built at Southeast 192nd Avenue and 20th Street in east Vancouver.
Commuters who pass Southeast 192nd Avenue at 20th Street are witnesses to a retail construction revival in east Vancouver. They’re also partially responsible for the resurgence.
About 20,000 vehicles a day pass the spot, just west of the border between Vancouver and Camas. The high visibility of the area attracted nine restaurant, service and retail businesses that are leasing space in the first two buildings coming out of the ground, at what is slated to eventually become a six building, $50 million 192nd Avenue Station development. The complex will anchor the northeast quadrant of 192nd and 20th, complementing an already-built companion retail center to the south, called 192nd Avenue Plaza.
Expected to open midspring, the new center will house Tropical Smoothie, Twilight Pizza and Bistro, A Barber, Pinache hair salon, the chiropractic office of Dr. Paul Scott, Bedont Orthodontics, real estate company Real Living, and the Denim & Frills Children’s Resale Boutique.
“There’s quite a bit going on out there,” said Julie Lewis, owner of Denim & Frills, which has operated its flagship store for 15 years at 10501 N.E. Highway 99 in Vancouver’s Salmon Creek area.
The 192nd Avenue store will be her company’s second location. Other businesses signed on to lease space include a Mio Sushi restaurant and a martial arts business.
“We’re looking at a midspring opening,” said Dean Kirkland, who is developing the site with partner Tom Flies of Columbia Pacific Leasing and Income Properties.
Kirkland said traffic streaming by on 192nd is the primary draw for retail tenants. The site could be even busier upon completion of a $3.5 million road project proposed by Camas to connect Vancouver’s 20th Street to Northwest 38th Avenue in Camas.
The city of Camas is waiting for federal permits to acquire property and begin work on the less-than-one-mile-long roadway, which will also serve as an additional route to the new office campus of Fisher Investments asset management firm.
“We’re working on getting the federal permitting now,” said Phil Bourquin, Camas’ community development director.
Dean Kirkland expects space will fill up quickly in his company’s next retail project, south of 192nd Avenue Plaza. He anticipates starting work this summer on the project, to be called 192nd Avenue Plaza South.
In the meantime, Kirkland said retail businesses are relying on consumers in search of convenience near the 20th Street and 192nd Avenue intersection.
“It’s a major thoroughfare with great access to (state) Highway 14,” Dean Kirkland said, adding that his project is on the Vancouver side of the border between the cities, but still at a main convergence between Camas and Vancouver.
“It fills the need where they don’t have to go as far west to shop in Vancouver,” he said.
Dean Kirkland Of Kirkland Development Interviewed On Vancouver Development Project
Posted by Tom Smith in Vancouver Washington Commercial Real Estate on December 16, 2011
This video and story are from May 2010, but it will provide some nice background to how far the project has come as featured in this post.
Here’s the gist of the original story by Joe Smith that ran with this video on the KGW website:
VANCOUVER, WA — You may hate traffic. But, for business owners along 192ND in East Vancouver it’s a green light to move forward with more development.
One shopping center under construction is the 192ND Avenue Plaza, which sits at what could be the new gateway to Camas. It may eventually roll out the red carpet for more business and jobs to Clark county.
“We’re really looking at 192nd as the place to go,” said Dawn Stanchfield, owner of Lilly Atelier.
Dawn is a business owner expanding with another store in the Plaza development.
“This is 100-percent leased,” said Dean Kirkland, Chairman of Kirkland Development.
This is Dean Kirkland’s biggest project to date. It’s worth $12 million and is slated to be completed by the end of August.
“We started out as an 18,000-square-foot building. Then, as we picked up momentum, we went to a 29 and now we’re at 35,” Dean Kirkland said.
Along with the construction will come much needed jobs. Tim Kofstand is a superintendent with Perlo Construction.
More jobs will come when Phase Two begins next year. It is across 20th street on eight acres. It’s all part of major building boom in East Clark County.
“We’ve got a new Costco going in 200 yards to the north. We’ve got Fisher Investments going in right over here to our Southeast, that will bring almost 500 employees,” said Dean Kirkland.
Traffic patterns now bring in about 21,000 vehicles. Research indicates that could more than double when Costco opens.
New residential developments began in 2008 on 20th Street and then the street will be expanded into Camas.
“Drawing that linkage over to 20th becomes paramount, especially when we’re looking at commercial retail,” said Camas Mayor Paul Dennis.
The project will cost between $2- and $8-million. Plans are drawn up, now it’s a matter of getting the funding.
The 192nd Avenue Plaza will be completed in August. Tenants hope to move in by fall, in time for the holidays.
Mon May 17 17:26:43 PDT 2010
East Clark Co. sees major building boom
Heavy traffic patterns along 192nd Ave. in East Vancouver are spurring more business for eastern Clark County. View full article
Bluestone & Hockley Partners With Sperry Van Ness To Boost Its Brokerage
Posted by Tom Smith in Vancouver Washington Commercial Real Estate on July 3, 2011
Bluestone & Hockley Real Estate Services has harnessed itself to a powerful national name in a bid to boost its brokerage business as the economy revives.
The privately held firm purchased the Portland area regional franchise rights to Sperry Van Ness Commercial Real Estate Advisors, an Irvine, California-based brand with 160 offices and 800 brokers nationwide.
Bluestone & Hockley is a 140-person real estate firm with a 15-member brokerage team as well as interests in property management.
The deal was completed in mid-June. Sperry Van Ness Bluestone & Hockley Real Estate Brokerage makes its formal debut on July 5. It marries a national brand that brokered $4.7 billion of real estate sales in 2010 to a Portland-based independent responsible for about $50 million in sales last year.
Cliff Hockley, president, declined to disclose terms of the franchise agreement, but called it was a “substantial” investment that will deliver a national profile and the potential to attract national clients.
Karlin Conklin will lead Bluestone and Hockley's new brokerage division.
Curt Arthur, who manages the Sperry Van Ness franchise in Salem, approached Hockley about linking up as part of a larger strategy to cement Sperry Van Ness’s profile in the top 35 U.S. markets.
Despite its past relationship with Guardian, Sperry Van Ness had a relatively small presence in Portland.
It is chiefly represented by the family brokerage team of Gary, Ryan and Kris Imbrie. The Beaverton-based firm, Sperry Van Ness – Imbrie Realty LLC, focuses on retail sales throughout the state.
“Portland is a very important market for us,” Arthur said. “We want to have a larger presence there than we have in the past.”
Hockley said the message resonated. By partnering with a 160-office network, Bluestone & Hockley hopes to expand its brokerage business by making itself attractive to larger businesses that want a single partner to handle their real estate needs. Its new partner brings a new suite of tools, including an online auction service, and access to new capital sources.
Sperry Van Ness isn’t the only national player shopping for a local partner. Chicago-based Jones Lang LaSalle, a global firm with more than 1,000 offices worldwide, is widely rumored to be shopping for a local partner to upgrade its Portland presence.
Independents comfirm they’re being courted.
Craig Sweitzer, principal with Urban Works Real Estate, said he’s rejected several overtures by national firms wanting to link with his independent brokerage, which specializes in urban retail space. His business doesn’t depend on national referrals, he said.
The timing of the Sperry Van Ness-Bluestone deal is not accidental. Bluestone & Hockley’s brokers specialize chiefly in investment sales, a particularly slow part of the market. Hockley doesn’t expect the market to normalize for another 12 to 18 months, but the national profile will help it gain market share when it does.
“Our focus is to grow our business,” he said.
Like Sperry Van Ness, Bluestone & Hockley keeps a relative low profile by specializing in Class B and tertiary properties, the day-to-day income producing real estate that seldom generate headlines when it is leased or sold.
George Slusser, chief operating officer of Sperry Van Ness International, said Bluestone’s mix of brokerage and property management services made it an attractive local partner as the firm looked to gain a presence in the Northwest.
“They are really an ideal candidate for us,” he said.
Sperry Van Ness launched in 1987 and began franchising its offices in 2000. It operates in about 155 markets. Investment sales represented about 70 percent of its activity in 2010 and leasing represented the balance. Franchisees operate all of its local offices.
Bluestone & Hockley brokered $50 million in sales in 2010. Conklin said the Sperry partnership will help Bluestone meet its goal of growing to $55 million in the first year. The firm expects to add five to 10 new brokers as well, she said.
Story By Wendy Culverwell – Portland Business Journal Staff Writer
Shigezo Japanese Restaurant in Portland, Oregon Now Open
Posted by Tom Smith in Vancouver Washington Commercial Real Estate on October 22, 2010
Shigezo Japanese Restaurant at the corner of Park and Salmon in Portland, Oregon, is officially open for dinner and take out as of October 21, 2010 (they will be open for lunch starting November 1). This is truly an exciting event!
Please join me in welcoming and congratulating, Tamio and Toku, with Shigezo, Restaurant Consultant Bill Hayden and General Contractor Frank Bocchetti in their accomplishment.
The entire interior of the former Pinocchio Italian Restaurant was removed and an authentic Japanese decor was constructed in the 3,500 square foot space of unit 101. The attention to detail was painstaking by all involved. You can see a few photos of the new interior at the end of this post.
Here’s a nice local preview done on Shigezo
Shigezo’s contact info:
Shigezo Japanese Restaurant
Total Kitchen Services, LLC
1005 SW Park AVE
Suite #101
Portland, Oregon 97214
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