RECENT TRANSACTIONS

keller

-Keller Supply In business for close to 70 years and with over $200 million in sales, Keller Supply is a preeminent distributor of spa, plumbing and HVAC products with over 60 locations in 8 states. They had a problem though as Milwaukie Light Rail was coming right through one of their warehouses in Portland. Working closely with Todd and Cascade Commercial Real Estate, Keller developed a relocation plan that involved some very specific locational and facility requirements. After reviewing numerous opportunities, Keller represented by Cascade Commercial located and closed on a newer 45,000 sf distribution center in Portland’s Northeast Industrial neighborhood. “Todd demonstrated an ability to identify buildings and land that may be of interest to us and seems to have an excellent handle on the market and what is available. He helped with numerous issues and had relationships with the right people to get the deal done. I would not hesitate to recommend Todd. He is honest and diligent and follows through with tasks in a timely manner” says Stuart Keller Vice President of Real Estate.

land o lakes
-Land O’ Lakes You probably have had some of their butter or other fine dairy products, but that is a small selection of the hundreds of products Land O’Lakes sells around the world to chalk up over $16 billion in sales. After shutting down a large animal feed facility in Portland, Lake O’Lakes turned to Cascade Commercial Real Estate to sell this property even though they had a national relationship with Cushman & Wakefield. Todd and Cascade Commercial were chosen because of a demonstration of superior knowledge and understanding of the market and the property with both its unique attributes and potential drawbacks. Consisting of a large and rare industrial land (2.5 acres) parcel, this property had some challenges: an old dilapidated warehouse; a dozen huge rusting silos; several environmental issues and a very tough commercial real estate market all which would have scared off most buyers. After months of marketing, studies, analy- sis, and negotiation local investor/developer Lindquist Development closed on the $2.3 million transaction which was a 15% premium over a recent appraisal.

salvation army

-Salvation Army Founded over 150 years ago, the Salvation Army (SA) is one of the largest and most respected charitable organizations in the world that has changed millions of the lives for the better in almost every country on the planet. They have been active in Portland for over 100 years and when they built a new $20 million center in Portland, they needed to sell their older facilities in Portland’s Central Eastside on MLK Blvd. After interviewing several brokerages, they selected Cascade Commercial Real Estate because of Todd’s unique understanding of Salvation Army’s properties and the Central Eastside market. Within months of marketing, one of Portland’s most respected historic devel- opers, Venerable Properties presented an acceptable offer. With a building that was over 100 years old there were some inevitable “bumps” along the way with environmental and seismic issues. With several renegotiations, each party worked together to complete the transaction and Venerable is now undertaking a $ 6 million retrofit to create an iconic historic development in the Central Eastside. Cascade Commercial has an adjacent SA facility in escrow.

alliance

-Alliance Development This was one tough deal! This property represented significant challenges; a pre WW II conglomeration of 6 partially leased buildings of common walls with 65,000 sf of low quality space, severe deferred maintenance, a bank ready to foreclose and an owner who had “tossed in the towel”. After numerous months of negotiation and “hand holding”, Alliance Development (which is an offshoot of OPUS Development) came to agreement to buy the building with the hopes of repositioning the property to add long term value. Structuring an assumption of the underlying loan along with some cash and a carried back second mortgage, the deal finally came together after many stops and starts in the 9 month process.Kyle Bertelsen of Alliance Development offered his view, “Todd went above and beyond the typical brokerage role to get this deal to the finish line. He worked tirelessly the transaction alive.”.

pge
-PGE As Oregon’s oldest and largest utility with close to $ 2 billion in sales and over 800,000 customers needed to consolidate operations due to displacement of their southeast Portland facilities due to the coming of Milwaukie Light Rail, they turned to Cascade Commercial Real Estate. After reviewing numerous properties, a 10 acre site in Tualatin with a 40,000 sf warehouse and vehicle servicing buildings was the preferred choice. After negotiating a significant price reduction from the owner of the property (Coca Cola Enterpises), PGE undertook a accelerated due diligence. After numerous reviews and management input, PGE closed the $3.950,000 transaction in less than 90 days.