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News release

PORTLAND, OR

Owners Renew Focus on Management as Portland’s Commercial Real Estate Market Continues Upturn


PORTLAND, Ore – Jan. 20, 2015 – 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.  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.  Next month, the firm will begin delivery of property management services at Boston-based STAG Industrial’s 420,000 square foot warehouse-distribution property at 18285 NE Halsey in Gresham, Oregon.  In addition, JLL initiated property management at Cornell Oaks/Creekside Office Park, major suburban office parks in Beaverton on behalf of a global fund investor Starwood Capital. 

“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.  The firm’s property management experts focus on enhancing value by finding practical ways of reducing operating expenses, mitigating risk at the property level, increasing tenant retention, enhancing sustainability and providing accurate and timely financial reporting.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​