Search
 

CBRE Lands 700,000-SF Assignment; Names New Directors

PORTLAND, OR-The new assignment is to handle property management and leasing for two of the four properties ING Clarion acquired here as part of its 7.1-million-sf portfolio acquisition from CalWest Industrial Properties. The good news offsets the recent loss of a key property management team, a gap it has filled with a promotion and new hire.

By Brian K. Miller | Updated on April 22, 2005

PORTLAND, OR-It has been a roller coaster of a month for the local office of CB Richard Ellis. At the start of the month, it received a 700,000-sf boost to its 4.2-million-sf property management portfolio through ING Clarion. ING handed it the management assignment for two of the industrial properties it acquired from CalWest Industrial in a 7.1-million-sf, $474-million buy. It also held onto the management assignment for 1201 Lloyd Blvd., a 225,000-sf CBD office building that changed hands on March 29.In the middle of the month, it lost Sue Iggulden, its director of asset services, and senior property manager Lisa Johnston. The duo left to launch a property management division for the local office of Colliers International, raising the possibility that it could lose some of its property management work to Iggulden and her new employer when contracts come up for renewal.Concurrently, to fill the gap, it promoted senior property manager Chris Battles to director of asset services and hired Scott Weigel, most recently director of Naito Property Services, who also will be a director of asset services. Battles has been with CBRE for 10 years. Prior to Naito, Weigel spent five years with Koll Management Services and six years as district manager for Rreef.”We don’t expect to lose business,” Weigel tells GlobeSt.com “We think we have a very strong team; we think we will not only retain our assignments but also we expect to see some pretty good growth in the portfolio.”The new assignments from ING Clarion are the nine-building, 530,000-sf Wilsonville Business Center in Wilsonville and the 176,634-sf Parkway Industrial Center. The new assignments take its property management portfolio to about five million sf. According to Mark Fitkin, head of CBRE’s local office, the firm has another four to five significant new assignments that are in the discussion stage.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.