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May 22, 2014

List Leaders: The 5 managers with most metro office space

Portland Business Journal

Brandon Sawyer

Don't call them "spacey." The commercial property management firms with the most square feet of metro-area space have to be razor-focused and ultra-organized to deal with the multiple landlords, scores of tenants and myriad vendors necessary to oversee the properties in their charge.

Once again, Los Angeles-based CBRE Inc. leads the pack, holding the keys to 14.4 million square feet of mostly industrial and office properties. Nationwide the company manages more than 730 million square feet of commercial space. Notable in its Portland portfolio is the Pearl's Brewery Block 2, encompassing 219,965 square feet of LEED-NC Gold-certified office and retail space in the historic Henry Weinhard Brewhouse and Cellar and a new 10-story tower office building (pictured in our gallery).

The Oregon division of New York-based Cushman & Wakefield, which manages over a billion feet of space, jumped five places from No. 7 last year to take the No. 2 spot with 9.5 million square feet of metro property, including the LEED-EB Platinum-certified 200 Market Building (also pictured).

NAI Norris Beggs & Simpson, Pacific Realty Associates LP and Norris & Stevens Inc. complete the top five managers, and were all in the top five last year as well. NAI Norris Beggs & Simpson oversees One Main Place, the fifteenth-tallest and sixteenth most spacious building in Portland, while Norris & Stevens has managed the historic Jackson Tower Office Building, built in 1912, for the last ten years (both pictured).

In our survey for the list, 10 out of 15 firms said the current supply of metro-area commercial space was just right, but 7 out of 15 agreed that industrial space was the hardest to fill, and Karen Benoit, senior vice president of marketing at Kidder Mathews, noted that, "[Finding a] large tract of developable industrial land served with good transportation," is the biggest challenge facing commercial property managers in the region.

Meet metro area's top commercial property managers by clicking through the gallery above. Portland Business Journal subscribers can access the full list from the May 9 issue of the weekly edition below.

For the full story, go to Portland Business Journal.

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