CBRE, C&W Win Leasing Work for Rreef

PORTLAND-A two-man team from Cushman & Wakefield and a three-person team from CB Richard Ellis’ will split the leasing assignments for 4.2-million sf of area industrial space the Chicago-based investor of pension fund money is in the process of acquiring. The acquisition, on behalf of CalPERS, is part of a $400 million, 8.3-million-sf staged acquisition from Spieker Properties that began last fall and will continue through the end of 2001.

According to sources close to the deal, Tony Reser and Ben Peterson of Cushman & Wakefield will handle properties on the east side of the city while CBRE’s Ted Nicholson, Marty Horeis and Catherine Putnam will handle properties to the south in Wilsonville and Tigard. Glen Scott, vice president and asset manager for Rreef in Seattle, told GlobeSt earlier this year that although the company is in the process of beefing up his Portland staff to handle management and renewal leasing for the new portfolio, it will need help filling the existing vacancies.

“Typically, the way we handle things is our own management people do property management and renewal leasing, but when we acquire a critical mass like the Spieker portfolio, there will probably be enough leasing of vacancies to employ one or two top-notch brokerage firms,” said Scott, adding, “There’s nobody who can effectively handle the entire metro area.”