Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/888015
A mazon may be a dirty word to many within the retail real estate world, but to cities and the commercial real estate industry as a whole, this ecommerce behemoth can mean big business. Whether it's a fulfillment center, brick-and-mortar bookstore or a satellite office space, the world's largest internet company has needs — and those needs are ex- panding. This pursuit of retail, media and internet world domination is what led Jeff Bezos, Amazon's founder and CEO, to announce in late September that the company was searching for a second headquarters location in North America. Called HQ2, Bezos was careful to note this new office would not play second fiddle to the company's current headquarters, a 33-building, 8.1-million-square-foot campus in Seattle that houses more than 40,000 employees and resulted in $38 billion in additional invest- ments to the city's economy. T he Pacific Northwest experienced unprecedented snowfall and ice storms last winter, while other areas of the West saw large amounts of rain that caused disastrous flood- ing. Many commercial property own- ers ended up spending much more than previous winters because of a lack of preparedness. As a direct re- sult, we're seeing more Oregon-based property management firms being proactive rather than waiting to re- spond to a situation after it has hap- pened. For the property manager, the level of proactiveness is the difference between being seen by clients as a simple property manager or as a true "asset manager." In commercial prop- erty management as with most profes- sions, it is best to be forward thinking and strong at problem solving to excel at your given task. WESTERN CITIES ROCKED BY AMAZON'S AMAZING OPPORTUNITY The online retail giant's call for RFPs over the location of its second headquarters has sent shock waves and salivation throughout the U.S., including here on the West Coast. By Nellie Day see AMAZON, page 50 see MANAGEMENT, page 54 LPC will create a state-of-the-art conference center, upgraded lobbies and common areas, a collaborative outdoor lounge area and an on-site coffee bar at its latest Class A office acquisition, 3131 and 3133 Camelback in the upscale Camelback Corridor. MANAGING PROPERTIES THE WEST OVER From landlords to tenants, lower costs and extra amenities, property managers have one goal in common — keep everyone happy — as they attempt to achieve the ideal ROI. By Paul Weaver Economic Development Activity Ramps Up In Secondary Markets page 30 CRE and the California Courts page 42 page 48 Landlord vs. Tenant — Whose Market is it? California's Cannabis Real Estate Challenge page 46 INSIDE THIS ISSUE www.REBusinessOnline.com October 2017 • Volume 15, Issue 2 Amazon's Seattle headquarters houses more than 40,000 employees and resulted in $38 billion in additional investments to the city's economy.