NAI NBS' Fuller Earns CCIM Designation

NAI Norris, Beggs & Simpson Vice President Tamara Fuller, a broker specializing in office leasing and sales in Clark County, has obtained her Certified Commercial Investment Member (CCIM) designation.

To attain the CCIM designation, Fuller completed four core courses and three elective credits, prepared a portfolio and passed a comprehensive exam.

A CCIM is a valuable resource to the commercial real estate owner, investor, and user, and is among an elite group of about 9,000 professionals in North America and in 30 countries abroad. Only 6% of the estimated 150,000 commercial real estate practitioners nationwide hold the CCIM designation, according to the CCIM Web site.

Fuller joined NAI NBS in 2000 and has since had a hand in leasing nearly a million sf of space, and selling about $18 million in total value of real estate. She was NAI NBS’ #2 Top Producer and #3 Deal Maker of the Year in 2008. Fuller is on the board of the Greater Vancouver Chamber of Commerce and is active in the Rotary Club of Greater Clark County and SW Washington Junior Achievement.

NAI NBS Broker Buzz for October: Retail Market is Tenants' Market

In a recent column for the Daily Journal of Commerce, NAI NBS retail brokers Gina Barendrick and J.J. Unger highlighted the Portland metro retail market. Though this recession has been tough on retailers, they say the current climate is a retail tenant's market.

Here's an excerpt:

"Location, location, location. It's a saying many retailers take to heart. From restaurants to boutiques to grocery stores a prime location is a priority; however, Class A space in popular shopping centers can be costly.

This recession has been tough on retailers, but there is some good news. Increased vacancy in the retail market translates to lower rental rates so companies can move to a better location for less than they would in better economic times."

The whole article can be found here.

Neville Bassett Joins NAI NBS Industrial Team

NAI Norris, Beggs & Simpson has added Neville Bassett as a Real Estate Broker on the industrial team in Portland.

Most recently, Bassett was a Senior Account Executive in Business Property at GE Capital. In this position he sourced and closed commercial real estate loans, closing 43 transactions valued at $120 million between 2005 and 2009. His career at GE Capital spanned 15 years. He also has experience in commercial equipment finance and sales management.

Bassett holds a BS in business and economics from Eastern Oregon University, and is a licensed broker in Oregon. He is actively working toward achieving the Certified Commercial Investment Member (CCIM) designation.

Bassett's resume and contact info can be found here.

NAI NBS Releases Third Quarter Reports

NAI Norris, Beggs & Simpson has released its Third Quarter 2009 quarterly reports for office, industrial, retail and multifamily commercial real estate, as well as its economic report.

Office vacancy in Central City rose slightly from the previous quarter to 11.12%, with -272,692 sf absorbed. Two Class B buildings in Northwest were major contributors to this rise in vacancy and negative absorption. Vacancy in the suburban office markets rose about a percentage point to 20.59%, and Vancouver office vacancy rose to 18.42%.

Industrial vacancy increased to 14.94%, with -531,805 sf absorbed. One positive sign for the industrial market this quarter was Daimler Trucks North America’s decision to keep its Swan Island plant open. The plant had previously been scheduled to close in June 2010.

Vacancy in the retail market rose to 8.0%, with 365,818 sf newly available. The closure of all Joe’s Sports & Outdoors stores helped contribute to the increased vacancy, but Dick’s Sporting Goods leased a few previous Joe’s locations in the metro area.

Multifamily vacancy decreased slightly to 4.64%, which can partly be attributed to more tenants being active during the summer months; some landlords offered rent concessions and other incentives to attract tenants. Multifamily rental rates rose slightly.

A PDF of all of the reports can be found here.

Has the Market Hit Bottom?

This question has been the subject of much speculation lately from commercial real estate experts, economists and more. National Real Estate Investor recently published an article suggesting that the bottom is likely imminent, because investors are starting to gather capital in anticipation of making property acquisitions again. The publication surveyed more than 500 property owners in August to get a feel for where this market is headed.