Downtown Office Broker Turley is NAI NBS' Number One Top Producer of 2010

NAI Norris, Beggs & Simpson's Number One Top Producer of 2010 is Sean Turley. Turley, a specialist in downtown office leasing and sales, has been with NAI NBS since 1999. He completed 57 transactions valued at nearly $40 million during 2010. He helped sell the historic Sherlock Building for $6.4 million, and helped sign 46,000 sf in leases at the Bank of America Financial Center, where he represents the landlord.

Jennifer Medak and John Medak Tie For Number Two Top Producer of 2010

Office brokers and siblings John Medak and Jennifer Medak, who have both been with NAI NBS for about 10 years, tied for the Number Two spot for the second year in a row. They completed 64 deals valued at more than $51 billion last year, primarily in the suburban markets. Their landlord representation during 2010 included leasing 24,000 sf to State Farm Auto Insurance at Fanno Creek Building B, and 17,400 sf to CNA Insurance at Pacific Parkway Center.

Merino Takes Number Four Top Producer of 2010 Spot

Industrial broker Michael Merino, who has achieved the respected CCIM and SIOR designations, is NAI NBS' Number Four Top Producer of 2010. A frequent and consistent member of this list, he is actively involved in conducting business through the NAI Global Network. Some of his highlights of 2010 were representing Precision Elite Gymnastics in a 34,000 sf lease in Clackamas, and serving as a landlord rep in XO Communications’ 31,000 sf lease at Cascade Business Center.

Investment Broker West is Number Five Top Producer of 2010

Investment broker MaryKay West, CCIM, was NAI NBS' Number Five Top Producer of 2010. She and partner Chris Johnson completed a number of significant deals last year, including leasing the entire 340,000 sf office portion of downtown’s First & Main. She also helped represent Alpha Broadcasting in its 31,000 sf lease at Pacwest Center. She is an accomplished writer and serves as Chair of the Independent Publishing Resource Center Board of Directors.

Chesnut Foster Honored as NAI NBS Property Manager of the Year

NAI Norris, Beggs & Simpson named Beverly Chesnut Foster Property Manager of the Year at the company's annual awards banquet Jan. 22.

Chesnut Foster is a Certified Property Manager (CPM) who joined the company in 2008. She currently manages three properties with office and retail components totaling nearly 300,000 sf. One client deemed her the “property manager of the century,” and said she ably deals with challenges and goes above and beyond to satisfy tenants and clients. Prior to coming to NAI NBS, Chesnut Foster had a diverse career that included managing property for the Port of Portland and lecturing on real estate and management in central Europe.

Some Positive Signs for PDX Commercial Real Estate During Fourth Quarter

NAI Norris, Beggs & Simpson has released its Fourth Quarter 2010 quarterly reports for office, industrial, retail and multifamily commercial real estate, as well as its economic report.

Office vacancy in Central City decreased to 11.78%, with a few significant leases. Suburban office vacancy fell slightly to 23.88%, with 121,056 sf absorbed. One of the larger leases of the quarter was ACS taking 30,656 sf at Triangle Pointe for a new call center. Vancouver office vacancy rose slightly to 18.7%.

Industrial vacancy fell slightly to 15.01%, with 108,375 sf absorbed. As one recent study showed, the industrial sector is a bright spot in Oregon’s economy, and the Port of Vancouver has recently seen heightened activity with BHP Billiton’s 60-acre lease.

Retail vacancy was stable at 6.4%, with 81,081 sf absorbed. The area’s first H&M opened in November at Pioneer Place, and H&M also leased nearly 20,000 sf at Washington Square. Ross Dress for Less and Dick’s Sporting Goods also signed significant leases during Fourth Quarter.

The Fourth Quarter ended with a flurry of multifamily investment sales. The $79 million sale of Ladd Tower and $70 million sale of the Palladia Apartments were just two of the significant sales of the quarter. Apartment vacancy also fell to 3.09%.

Full reports can be accessed here.

NAI Global Releases Global Market Reports

NAI Global has published its 25th annual Global Market Report, containing information on commercial property in more than 200 markets around the world, including Portland.

2010 was a tough year for the commercial real estate market, but recovery is starting to occur, and there's some room for optimism.

“Although 2010 was another very challenging year for the industry, we began to see clear signs that the global economy and commercial real estate markets had stabilized and were beginning to improve with a noticeable pickup in transaction volume around the world,” said Jeffrey M. Finn, President & CEO of NAI Global. “Companies around the globe are taking advantage of the current market, extending or renegotiating leases, securing investment properties, disposing of underperforming assets and finalizing plans for growth in the next 24 months. We expect a much more active market for buyers, sellers and occupiers as conditions continue to improve.”

The full report can be found here, and the snapshot of Portland is on page 124. It discusses Portland's office, industrial, retail and multifamily markets.