There is not a more iconic food brand that represents the creativity, quirkiness and purity of Portland’s food brand than Salt & Straw Ice Cream, started over 6 years ago by cousins Tyler and Kim Malek. S & S has been a food sensation that has surfed the wave of artisanal high-quality food culture in Portland and beyond. With their local sourcing, interesting, sometimes unthinkable flavor combinations, Salt & Straw is on a huge growth spurt with now 4 stores in Portland, 5 in LA and two coming to San Francisco.
Because of their amazing expansion, they needed a much larger production, R & D and administrative HQ space, but had some very tight geographical and facility requirements.
Todd and Cascade Commercial worked closely with S & S on several buildings in the Central Eastside where Salt & Straw wanted to be. Eventually, a 28,000 sf, newer building in the heart of the Produce Row district came available when the produce company was moving to larger digs.
Though bigger than what they need right now, the location and characteristics were perfect and gave Salt & Straw the ability to grow into the building down the road. Todd worked closely with the landlord and Salt & Straw over many months to craft a long term lease that reflected both side’s needs, wants and requirements.
Salt & Straw got a building with some good food production quality infrastructure at a very competitive rate, a desired long term lease with the potential of buying the building, and most importantly Todd helped secure a great subtenant for a large portion of the building.
The landlord got a great, growing tenant; very little interruption in rental income; healthy rent escalations; and did not have to put a dime into the building.
It is rarity when both sides are this happy in a complicated lease transaction, with one real estate representative orchestrating multiple aspects of the transaction.
“Todd really went above and beyond what most brokers do to put this lease together for us. He became one of our team and was always figuring out ways that were fair, equitable and market-driven for both sides. Additionally, his knowledge of the market is unparalleled and deep, as this building was not on the market, and because of his connections, experience and understanding of our needs and the market he delivered a great building opportunity for us,” says Salt & Straw owner Kim Malek.