Just about a month ago, Trammell's retail brokers Craig Sweitzer and Dan Bozich moved from Trammell's base of operations in Beaverton to 1,120 sf in the Streetcar lofts development in the Pearl District, the redeveloping warehouse district north the Downtown core and east of Interstate 405. Trammell's regional director Chris Nelson and vice president of development Jeff Sackett will keep offices in both locations.
"We've traditionally been viewed as a suburban developer and we're trying to change that," Sweitzer tells GlobeSt.com. "People don't realize how much urban brokerage we do." Indeed, in addition to several smaller listings, Trammell has a hand in three of the city's biggest development projects: Hoyt Street Yards, Cascade Station and Two Main. Combined, the projects represent 500,000 sf of retail space and 1.6 million sf of office space.
Hoyt Street Yards is a multi-block residential and retail development by Homer Williams that includes Streetcar Lofts. Five residential buildings have been completed that carry a combined 75,000 sf of retail space. Sweitzer has the leasing assignment, which will grow by three more buildings before the development is complete.
Cascade Station, being developed by Bechtel, Trammell Crow and MBK Northwest, is a 120-acre office and retail development offering direct access to two interstate highways, a light rail line and an international airport. It is planned as 400,000-sf of retail space and more than 1.3 million sf of office, but the recession scared away a host of potential retail tenants that would have supported the first phase of development.
Two Main is a16-story class A Downtown office building Trammell is leasing and developing for Chicago-based Urban Growth Property Trust. Anchoring the west end of the Hawthorne Bridge between SW Main and Madison Streets, Two Main will feature approximately 296,000 sf of class A office space and 12,000 sf of street-level retail. Substantial preleasing will be necessary to get the project out of the ground, and though two thirds of the retail space has been committed to, no office users have been secured.
"Opening this new office in the Pearl District will enable us to better target and grow our full service commercial real estate services and development platform in downtown Portland," says Nelson. "By locating a team in the downtown area, we can better service our existing clients and more proactively target and win new business going forward."
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