GVA Wins 1M-SF Leasing, Management Gig

PORTLAND-The local office of GVA Kidder Mathews has been picked to provide property management and leasing services for SSR Realty Advisors’ 1.2-million-sf portfolio of area industrial parks. The portfolio includes Commerce Park Wilsonville (126,550 sf), Commerce Park Clackamas (280,000 sf), Commerce Park Milwaukie (407,352 sf) and Commerce Park McLoughlin (348,249 sf). Leading the leasing team will be GVAKM’s Steve Klein, who handled leasing on the portfolio for 14 years while with Trammell Crow Co. The property managers, GVAKM’s Cini Apostol and Kristi Carver, also previously worked on the portfolio as TCC employees, Klein tells GlobeSt.com. TCC sold the portfolio to SSR around 1992 and has been providing leasing and property management services since that time. An explanation for the change in service providers was not readily available. GVAKM also handles leasing and management for SSR in the Seattle area. Kidder Mathews is one of the oldest brokerage firms in the Seattle area. Klein opened its Portland office in July 2003, concurrent with the company’s change in affiliation to Chicago-based GVA from Insignia, which was merging CB Richard Ellis at the time. Klein was Insignia’s top local executive in between his time with TCC and GVAKM. He was joined at GVAKM by other key Insignia employees, including development services specialist Monte Haynes and industrial broker George Slevin. Earlier this month, GVAKM was selected to provide leasing and development services for the 1.2-million-sf Amberglen Business Center in Beaverton. The assignment was concurrent with GVAKM brokers sourcing the 217-acre acquisition for its new owner, Principal Financial Group. PFG paid State Farm $114.6 million for the asset, which is 33% vacant and has 36 acres available for development. With SSR’s Portland portfolio, GVAKM also will have instant opportunity to earn leasing commissions. The portfolio’s overall vacancy is about 33%, according to officespace.com. Asking shell lease rates at the properties range from $0.32 to $0.35 per sf per month.