Insignia/ESG Adds 450,000 SF to Local Mgmt. Portfolio

PORTLAND-Insignia/ESG has brought 450,000-sf under its local management wing in the past several weeks thanks to existing clients making new acquisitions. Insignia’s Portland unit now manages close to four million sf in the region.

Three clients have acquired six Oregon buildings since February: Fremont Place I & II, Technology Center I & II, North Pacific Plaza, Village East, Farmington Village, and Crimson Corner. The clients who own the properties are pension fund advisor McMorgan & Co., which added Fremont Place to one of its funds recently for $17.5 million, as well as Dallas-based P.O’B. Montgomery and Boston-based One Beacon.

Insignia’s managing director of property services Dwight Knapp tells GlobeSt.com the company was successful in winning the new assignments because it has been successful at assisting them in growing their portfolios by presenting them with potential investments that have paid off.

Insignia/ESG Senior Property Manager Cini Apostol will be responsible for the operation and maintenance of all six properties. Fremont Place I & II is a 120,000-sf, two building office project with a typical floor plan ranging from 21,000 to 28,000 square feet. The project is located on the Willamette riverfront, just south of the Fremont Bridge.

Technology Center I & II, located in Hillsboro and 100% occupied, is a two building office project totaling 95,000 sf. Tech I is anchored by Xerox and Mobilian and Tech II is anchored by FEI. North Pacific Plaza is a 65,000-sf office project right off the Highway 26-Highway 217 interchange. The development is anchored by Liberty Northwest.

Village East is a 136,000-sf retail project located in Salem, Oregon. Village East boasts strong anchor Tenants; Albertson’s, Bi-Mart, Borders, Big5 Sporting Goods, and Ross Dress for Less. Farmington Village is a 2.5 acre retail project located in Aloha, Oregon and Crimson Corner is a 30,000-sf retail project located past SW Cypress on Tualatin Valley Highway.