GRESHAM, OR—Beginning in February, JLL will handle property management services at Boston-based STAG Industrial's 420,000 square foot warehouse-distribution property here. In addition, JLL has initiated property management at Cornell Oaks/Creekside Office Park, major suburban office parks in nearby Beaverton on behalf of a global fund investor Starwood Capital.

With Portland's commercial real estate market on track to see positive growth this year, owners aim to solidify their buildings' reputations among tenants as well as position them for future market conditions, JLL says. With many buildings having undergone capital improvement programs in 2014, owners are now refocusing attention on day-to-day management at the property level, with many seeking out top providers capable of delivering greater efficiencies in day-to-day operations while keeping tenants happy.

In the last 12 months, JLL has added more than 2.2 million square feet of assets to its property management operations in the Portland market. The STAG property is located at 18285 NE Halsey in Gresham.

“Superior property management goes far beyond today's property performance,” says Jodi Prentice, senior vice president in charge of property management for JLL in Portland. “The property manager must look beyond the day to day functions at the property level and understand the overarching investment goals of the owner as well as the future needs of the tenants,” she adds.

As an example, Prentice points to the increasingly complex technological nature of commercial property ownership.

“With so many building systems deployed in today's commercial buildings and with innovations in energy efficiency, lighting systems and connectivity occurring so rapidly, keeping track of new developments is a daily discipline that some property managers can find challenging,” she says. “Having unfettered, 24/7 access to a global resource willing to share best practices across the broadest possible range of property management disciplines is a critical factor as we strive to deliver the best advice to owners in the Portland market.”

JLL manages more than 17.7 million square feet of property throughout the Pacific Northwest and 175 million square feet nationwide.

Instant Insights /

JLL: Portland Market Swing Spurs Management Push

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