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Portland, Ore., August 7, 2012 — Jones Lang LaSalle has represented San Francisco-headquartered New Relic in a new 19,482-square-foot lease at US Bancorp Tower. Jake Lancaster represented the web application performance management service company while Joe Vaughn, also of Jones Lang LaSalle’s Portland office, represented the landlord, Boise, ID-based Unico Properties.
The lease represents a significant expansion for New Relic, which will move from its existing space at the Commonwealth Building in November 2012. The firm currently leases approximately 5,000 square feet at 421 SW 6th St., having expanded twice in two years at that location.
“We’ve had a rapidly growing presence in Portland for more than three years and we wanted to stay in the immediate area but needed the right options for us both in terms of the size and nature of a new space,” said Devorah Rosner, Operations & Facilities Manager, New Relic. “Jones Lang LaSalle was extremely flexible as we pinpointed our needs and Jake made things happen for us even though our dynamic, expanding business sometimes required speedy adjustments in our real estate plans.”
According to Jake Lancaster, while creative space is highly sought after in the Portland CBD, especially by new generation employers, the availability of such space is tight and restricted largely to smaller, less efficient floorplates.
“Unico was able to structure a favorable lease for all parties with extremely creative tenant improvements to the space to give New Relic the look and feel of the workplace environment they were looking for and allow them to remain in the CBD,” Lancaster said.
The new space will accommodate New Relic’s 45-person engineering team, a group it plans to grow to 200 in the next few years. In addition to opening up the entire space by removing standard ceilings, Unico was also willing to accommodate New Relic’s desire for a bike parking facility within its office.
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About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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