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Ashforth Hands Pacific CEO Title to Ranking Local

PORTLAND, OR-Ashforth Pacific's defacto chief executive for "some time," Scott Langley formally takes the title from Hank Ashforth, now chairman, who works out of the parent company's HQ in Stamford, CT.

By Brian K. Miller | Updated on October 08, 2008

PORTLAND, OR-Scott Langley has been running Ashforth Pacific, the locally based West Coast subsidiary of the Stamford, CT-based Ashforth Co. for years as its president and top local executive. The former top-producing broker is now its chief executive as well, a title that most recently belonged to Stamford-based Hank Ashforth Jr. III, who is now chairman of Ashforth Pacific and executive vice president of the parent company, which was founded 112 years ago by his grandfather.

Langley, previously a senior managing director for Cushman & Wakefield, was lured away by Hank Ashforth in 2001 to take from him the role of president and expand the company’s real estate portfolio in Portland and break into new West Coast markets. Since that time, Ashforth Pacific has gone from having a dominant position in the central city’s Lloyd District to being one of the largest owners of class A office space in the entire CBD, with additional assets in Seattle and San Francisco.

Ashforth Pacific now owns or as an interest in 3 million sf (net rentable) in eight mid- and high-rise buildings on the West Coast. Langley tells GlobeSt.com that a lot of energy has been spent on the operations side in the last couple of years, making sure clients and tenants are happy and that leases are current by way of expansions and early renewals. As a result, average occupancy in the portfolio is approximately 97% with little near-term rollover, and the company’s tenant retention rate is a lofty 90% in an industry that averages closer to 60%.

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