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February 13, 2015

Energy company expands with massive downtown lease

Portland Business Journal

Jon Bell

In one of the largest office deals in Portland of 2014, CLEAResult, an energy management consulting company, leased 101,848 square feet of Class A office space located in the First & Main building at 100 S.W. Main St.

According to Phil Welker, vice president for CLEAResult, the space is an expansion for the company but also an opportunity to consolidate three different offices CLEAResult had around Portland. About 425 employees will occupy the space in First & Main, where the company already had a sizable presence.

Based out of Austin, Texas, CLEAResult acquired the assets of Portland Energy Conservation Inc., a nonprofit that spun out of the city of Portland, in September. Three years earlier, CLEAResult also acquired Fluid Market Strategies, a 120-person utilities marketing company here in Portland.

Welker said Portland is now one of CLEAResult's major hubs, comparable to its Austin location.

"Portland's a real center of gravity for our business and we're taking advantage of that an investing in our presence there," he said. "It's a great thing for Portland."

Kevin Joshi, a senior vice president with Kidder Mathews, represented CLEAResults in their negotiations with the landlord, American Assets Trust. He said CLEAResult's expansion is representative of what companies here are looking for.

"Companies value Portland, not only for its labor pool and relatively low cost of doing business, but for the high quality of life and vibrant atmosphere," said Joshi. "We expect more companies outside of Portland to continue this trend."

For the full story, go to Portland Business Journal.

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