headquarters opportunity offering memorandum
TRANSCRIPT
8505 SW CREEKSIDE PLACE, BUILDING 6 | BEAVERTON, OREGON 97008
HEADQUARTERS OPPORTUNITY OFFERING MEMORANDUM
Ethos Commercial Advisors LLC, an Oregon limited liability company (the “Agent”), has been engaged as the exclusive sales representative for the sale of Rivermark Building (the “Property”) or Ownership (the “Seller”). The Property is being offered for sale in an “as-is, where-is” condition, and the Seller and the Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include confidential information and are being furnished solely for the purpose of review by prospective purchasers (“Purchas-ers”) of the interest described herein for which it shall be fully and solely responsible. Neither the enclosed materials, nor any information contained herein, are to be used for any other purpose, or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed information, should be registered with the Agent as a “Registered Potential Investor” or as a “Buyer’s Agent” for an identified “Registered Potential Investor.” The use of this Offering Memorandum, and the information provided herein, is subject to the terms, provisions, and limitations of the Confidentiality Agreement furnished by the Agent prior to the delivery of this Offering Memorandum.
The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by the Agent or the Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners, and directors, as to its accuracy or completeness. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Seller nor the Agent shall have any liability whatsoever for any other written or oral communication or information transmitted, or made available, or any action taken, or decision made by the recipient with respect to the Property.
The Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from the market for sale at any time and for any reason without notice, to reject any and all expressions of interest or offers regarding the Property, and/or to terminate discussions with any entity at any time, with or without notice. This Offering Memorandum is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. The Agent is not authorized to make any representations or agreements on behalf of the Seller. The Seller shall have no legal commitment or obligation to any recipient reviewing the enclosed material, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions required under the contract for title to pass from the Seller to the buyer have been satisfied or waived.
By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their con-tents will be held and treated in the strictest of confidence; and (b) the recipient shall not contact employ-
ees, contractors, sub-contractors or lien-holders of the Property directly or indirectly regarding any as-pect of the enclosed materials or the Property without the prior written approval of the Seller or the
Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of the Seller or the Agent or as otherwise provid-
ed in the confidentiality Agreement executed and delivered by the recipient(s) to Agent.
The Seller will be responsible for any commission due to the Agent in connection with a sale of the Property. However, any broker engaged by Purchaser (“Buyer’s Broker”) shall
seek its commission only from the Purchaser. Under no circumstances will the Agent or the Seller be liable for same and recipient will indemnify and hold the Agent and
the Seller harmless from any claims by any brokers having dealt with recipient other than the Agent. Any Buyer’s Broker must provide a registration signed by the recip-ient acknowledging said Buyer’s Broker’s authority to act on the recipient’s behalf.
5 Executive Summary
6 Property Summary
8 Significant Building Improvements
10 Floor Plans
12 Location
16 Market Overview
CONTENTSJOSH [email protected]
BRIAN [email protected]
ETHOS COMMERCIAL ADVISORS LLC503.205.0610 | ECA-NW.COM
2222 NE OREGON ST, STE 208 | PORTLAND, OR 97232
LICENSED IN THE STATE OF OREGON
8505 SW Creekside represents the perfect opportunity to purchase a headquarters location in one of the Portland Metro’s thriving close-in suburban markets. The +/-30,499 square foot, two story building features large floorplates and has had numerous updates, including a new roof in 2020 with a two-year workmanship warranty.
LOCATION8505 SW Creekside is conveniently located along Beaverton’s Highway 217 Corridor, 7.5 miles Southwest of the city of Portland, and features easy access to Highway 217, Interstate 5, and Highway 26. The property is situated alongside Greenway Park, an 87-acre park with attractive amenities that include wetlands, trails, tennis and basketball courts, and a disc golf course. Washington Square Mall and a Westside Express Service commuter rail park and ride are also located nearby.
BUILDING HIGHLIGHTSn Parking for 65 cars (4.00:1,000)
n Easy access to Highway 217, Interstate 5, and Highway 26
n Walking distance to WES Commuter Rail
n Adjacent to 87-acre Greenway Park
n Heavy power
n Significant improvements to:
• Life Safety • Data/Telecom
• Server • Parking Lot
• Roof • HVAC
Headquarters Opportunity
Executive Summary | Rivermark Building | Ethos Commercial Advisors LLC
Large Floorplates
Significant Building Upgrades
Stand-alone Building
with No Shared Systems
Generous On-site Parking
Easy Accessto Highway 217,
Interstate 5, and Highway 26
PROPERTY INFORMATION
Address: 8505 SW Creekside Place Building 6
Property ID: R1239948
Legal Description: MARATHON INDUSTRIAL PARK Lot:14
Lot Square Footage: +/-88,426
Parking Spaces: 65 Surface
Parking Ratio: 4.00:1,000
Enterprise Zone: Yes, Ezone3
BUILDING INFORMATION
Stories: 2
RSF Above Grade: +/-30,499
Year Built/ Renovated: 1984/2005
Current Zoning: OI-WS (Washington Square Regional Office Industrial District)
Power: 1600-amps, 480V 3-Phase
PLEASE CALL FOR PRICING
Property Summary
Property Summary | Rivermark Building | Ethos Commercial Advisors LLC
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Significant Building Improvements
Property Summary | Rivermark Building | Ethos Commercial Advisors LLC
8
# TYPE MFG. MODEL SERIAL FILTERS BELTS TONS AGE
1 GP Trane YCD240B4LBJB 618100655D 4-20x20x2/4-20x25x2 1-BX56/1-BX81 20.0 2006
2 GP Trane THC092F4R0A00C 113812248L 4-20x25x2 DD 7.5 2011
3 GP Carrier 48THE006-611QE 12600G24298 2-16x25x2 1-AX40 5.0 2000
4 GP Carrier 48AJE020AP0611HW 2507U18446 10-20x20x2 1-BX62 18.0 2007
5 GP Carrier 48TMF025-611YA 2508U16990 4-20x20x2/4-16x20x2 1-BX53 20.0 2008
GENERATOR
n 75 kw diesel generator (installed 2005) for backup power
n Emergency egress and exit signage tied to backup generator
LIFE SAFETY
n Fully sprinklered
n Five exits (two required per code)
n Monitored alarm and smoke detection systems
LOADING
n One exterior loading dock (currently reconfigured for use as break area)
DATA/TELECOM
n All voice/data cable in tenant plenum space
n Dedicated 20 AMP, 120v outlet and data/ telephone outlet for up to three printers to share one circuit
SERVER
n Two redundant A/C units: 2-stage 7.5 Trane (2011) primary cooling, 5-ton Carrier (200) as backup cooling
n INERGEN fire suppression
HVAC
n Five rooftop units
Icons designed by eucalyp, DinosoftLabs, and Freepik from flaticon.com
PARKING LOT
n New 2.0” asphalt cap in 2014, with all disin-tegrating areas cut and replaced prior to capping
ROOF
n New Duro-Last Single Ply PVC Membrane Roof System with 20 year warranty (installed 2020)
ELEVATOR
n 51”x69” Montgomery elevator with 2,000 pound capacity serving the second floor
HEIGHT
n 14.5’ clear height in single story portion
Floor Plans – First Floor As-Built
Property Summary | Rivermark Building | Ethos Commercial Advisors LLC
10K
BC
E
BD
KC
C66
3
KTE66
S15
KCC663
first floor: +/-22,051 RSF
Property Summary | Rivermark Building | Ethos Commercial Advisors LLC
Floor Plans – Second Floor As-Built
11
KBC
second floor: +/-8,448 RSF
TALENT POOL
Extensive labor shed of highly-educated and skilled people, accessible through multi-modal transportation
LOW COST OF DOING BUSINESS
No city or county business income tax unlike Portland (2.6%) and Multnomah County (1.45%)
DIVERSITY OF POPULATION
100+ languages spoken and extensive cultural backgrounds means more oppor-tunity for employers
TRANSPORTATION HUB
MAX, WES, and bus lines all converge in Beaverton – highest % of ridership within entire TriMet system
EXCELLENT INFRASTRUCTURE
Continuous updates and improvements, plus reasonably priced utilities
LIVABILITY
Essential factor for Beaverton’s strength as a talent destination; workers move to the area even before having a job
Why Bring Your Business to Beaverton?
Property Summary | Rivermark Building | Ethos Commercial Advisors LLC
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One of 100 Best Cities to Live
—Money Magazine
One of the Top 25 Suburbs for Retirement
—Forbes
Top 10 Best Places to Raise a Family —Livability Magazine, 2018
One of the Safest Cities in Oregon
—National Council for Home Safety & Security
Finalist, All-America City (AAC) Award —National Civic League, 2018
The Best Place to Raise Kids in Oregon
—BusinessWeek
Icons designed by becris and Freepik from flaticon.com
8505 SW CREEKSIDE
PLACE
PORTLAND(7.5 MILES TO DOWNTOWN)
DOWNTOWN BEAVERTON(2.2 MILES)
TIGARD(3.5 MILES)
SW SCHOLLS FERRY RD
SW HALL BLVD
WASHINGTON SQUARE MALL
WES COMMUTER RAIL HALL/NIMBUS STOP
CONESTOGA RECREATION AND AQUATIC CENTER
GREENWAY PARK DISC GOLF COURSE
GREENWAY PARK
8505 SW CREEKSIDE
PLACE
SW CREEKSIDE PL
SW HALL BLVD
THE 217 CORRIDOR:TECHNOLOGY AND INNOVATION HUB GARNERING INTERNATIONAL MARKET RECOGNITION
Ascendas-Singbridge, a Singapore-based REIT, purchased ten buildings surround-ing 8505 SW Creekside in 2018, as part of a 33-building portfolio acquisition in-tended to invest in United States tech-nology and innovation hubs.
1
3
5
6
7
9
10
REDTAIL GOLF CENTER
1. 8705 SW Nimbus Avenue ...... 45,840 RSF
2. 8905 SW Nimbus Avenue ....... 75,218 RSF
3. 8305 SW Creekside Place ....... 19,775 RSF
4. 9205 SW Gemini Drive ........... 40,650 RSF
5. 8500 SW Creekside Place ......65,496 RSF
6. 8770 SW Nimbus Avenue .........19,507 RSF
7. 8300 SW Creekside Place ...... 54,144 RSF
8. 9405 SW Gemini Drive ............. 47,164 RSF
9. 8700 SW Nimbus Avenue ....... 16,446 RSF
10. 8405 SW Nimbus Avenue ......54,352 RSF
SW NIMBUS AVE
SW SCHOLLS FERRY RD
SW GEMINI DR
2
4 8
WASHINGTON SQUARE MALL
CASCADE PLAZA
Strategically located in concentrated clusters across three high-growth and technology-centric submarkets, the Portfolio provides significant scale to tap on key growth drivers in the US economy. We focus on locations with favourable long-term fundamentals and will continue to seek out opportuni-ties that will allow us to benefit from advances in science, technology and innovation in the future economy.
With a total net lettable area of approximately 3.3 million sq. ft., the properties are built on freehold land and are centrally located near major freeways, airports and mass transit, as well as retail outlets and amenities. The Portfolio has a high occupancy rate and provides business space solutions to high-profile and quali-ty tenants which are well diversified across industries including technology, internet, aerospace and biotech. The tenant list includes some of the most established Fortune 500 companies such as Nike and Oracle. Supported by strong cash flow from a diversified and high-quality tenant base, the Portfolio is expected to generate stable returns and long-term growth.
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Market Overview | Rivermark Building | Ethos Commercial Advisors LLC Icons designed by Scott de Jonge, OCHA, GraphBerry, and Freepik from flaticon.com
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Market Overview – Portland Metro
3.7%Unemployment Rate
Best Big City in the US to Start a Career
–GoBankingRates
2ndBusiness Tax Climate
–GoBankingRates
Highest GDP Growth in the Nation
Most Popular Inbound Destination Nationally
3rdFor Business and Careers
in the Country –Forbes
PORTLAND VS THE WEST COAST
PORTLAND
SEATTLE
LOS ANGELES
SAN FRANCISCO
Median Single-Family Home PriceRedfin (February 2020)
$430,000
$690,000$744,000
$1,410,000
31%
72% 73%
169%
Cost of Living Index ( % above US averages)
Source: Bert Sperling’s Best Places Cost of Living
44.7 Million
62.3 Million Nation’s Largest Car-Free Bridge
530+ Square Miles
7.2% / 17,000
#1 AirportRiders Annually on the MAX
Lightrail and Streetcar
Riders Annually on the Bus
Served by Public TransportBest Domestic Airport 2019 —World’s Best Awards/Travel & Leisure
of Commuters are Bikers (the highest for any large American city) Tillikim Crossing
Portland spends 59% less time in traffic than the average major West Coast city
238+ Waterfalls
The Pacific Crest Trail stretches 460 miles
across Oregon
Portland alone boasts 152 miles of trails
PORTLAND THE OUTDOORS
80 miles Pacific Ocean
Columbia River Gorge
Mt. Hood National Forest
Mt. Hood Ski Bowl
Wine Country
70 miles
65 miles
55 miles
30 miles
WHO IS MOVING TO PORTLAND?
41% Millennials
3,809 .......................................... Children (0-17)
4,108 ................................... College-Age (18-24)
9,720 ..................................Root-Setting (25-34)
3,206 ................................ Peak Working (35-44)
6,122 .................................. Peak Earning (45-54)
2,416 ................................. Peak Earning (55-64)
4,516 ............................................Retirees (65+)
#4 The 50 Best Cities for Millennials to Live Right Now –Forbes
17.5%25+ Population has Graduate Degree
43.8%25+ Population has
Bachelor’s Degree or higher
24.2%Growth in Educated Millennial
Population from 2010-2015
over50%Of higher education alumni
remain in Portland
Source: State of Oregon Net Migration by Age, U.S. Census Bureau, 2014
OHSU—Oregon Health & Science UniversityAwarded $389.6 million in grants and contracts annually
PSU—Portland State University#1 college in Oregon for “return on investment” according to Forbes
OHSU+PSUPartnered with the City of Portland and Portland Community College
to build $100 million academic health building
U of P—University of Portland#3 in the nation for Fullbright Awards
Ranked a top-10 best college for 23 consecutive years by U.S. News & World Report
Market Overview | Rivermark Building | Ethos Commercial Advisors LLC
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Market Overview | Rivermark Building | Ethos Commercial Advisors LLC
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ADVANCED MANUFACTURING ................................................................................................... 11.12%
ACTIVEWEAR ............................................................................................................................... 7.50%
FOOD, BEVERAGE, AND OTHER RETAILERS ................................................................................ 7.02%
TRANSPORTATION, WAREHOUSING, AND UTILITIES ................................................................ 3.45%
FINANCE, INSURANCE, AND REAL ESTATE ................................................................................5.83%
PROFESSIONAL AND BUSINESS SERVICES .............................................................................. 15.33%
EDUCATION AND HEALTH SERVICES ........................................................................................ 14.64%
LEISURE AND HOSPITALITY ....................................................................................................... 10.59%
INFORMATION AND OTHER ........................................................................................................5.56%
GOVERNMENT ............................................................................................................................ 12.75%
CONSTRUCTION ..........................................................................................................................6.22%
EMPLOYMENT BY INDUSTRY
Portland’s diverse economy is positioned for tremendous growth with limited downside exposure.
JOSH BEAN [email protected]
BRIAN HANSON [email protected]
AMY HARTMAN [email protected]
503.205.0610 2222 NE Oregon Street Suite 208 Portland, OR 97232 ECA-NW.com
ETHOS COMMERCIAL ADVISORS LLC
FOR MORE INFORMATION PLEASE CONTACT: