meet prep
full-service leasing advisory
tenant representation
Founded in 1993, Pacific Real Estate Partners (PREP) has over 35 brokers providing lease advisory services to the Pacific Northwest, with offices strategically located in Seattle, Bellevue, Tacoma, Olympia, Washington and Portland, Oregon. In contrast to the bloated national firms that take a macro approach, PREP’s focus and expertise in this region provides our clients with insight and results that competitors cannot match. The proof is in the numbers:
13M 1,179 273 +
Square Feet of Deals Completed
Number of Deals/Clients
Number of Industry Types Represented
clients
meet some of the companies that have chosen to work with us:
ACCOUNTING & BOOKKEEPING GENERAL SERVICES
CHURCHES
Matson Driscoll Damico
Northwest Community Church
ACTUARIES
Word of His Grace Church Milliman COMPUTER SOFTWARE BANKS
InfoMetrix World Savings BIOTECHNOLOGY PRODUCTS & SERVICES
Ondine Research Lab
Media Pro, Inc Starcom COMPUTERS-SYSTEM DESIGNERS & CONSULTANTS
CELLULAR TELEPHONES (SERVICES)
T-Mobile
Aspen Technologies
CONTROLS CONTROL SYSTS/REGULATORS (WHLS)
HARDWARE-RETAIL
Contract Hardware Inc.
PCE Pacific, Inc
HOSPITAL EQUIPMENT & SUPPLIES (WHLS)
DELIVERY SERVICE
Airborne Express Inc Mirabilis Medica, Inc ELECTROMEDICAL/THERAPEUTIC APPRTS (MFRS)
BioLife Solutions INDUSTRIAL EQUIPMENT & SUPPLIES (WHLS) ENGINEERS
WW Grainger PCSI Design
INSURANCE
ENGINEERS-CONSULTING
NIF Pacific Group AR Kalmus LABORATORIES-BIOCHEMICAL FOOD BROKERS (WHLS)
Applied Speciation Impact Sales
LABORATORY EQUIPMENT & SUPPLIES (WHLS)
REAL ESTATE LOANS
Wells Fargo Home Mortgage
ISEC, Inc. RESEARCH SERVICE
The Biatech Institute
MAILING & SHIPPING SERVICES
FedEx Express
SATELLITE EQUIPMENT & SYSTEMS-RETAIL
Blue Sky Systems
NAVIGATION CONSULTANTS
Transas USA
SENIOR CITIZENS SERVICE ORGANIZATIONS
Puget Sound Guardians
NONCLASSIFIED ESTABLISHMENTS
Vince Wanamaker
VIDEO GAMES - MANUFACTURERS
NOVELTIES-RETAIL
Sandlot Games M & T Design Services
WATER WELL DRILLING & SERVICE
PREFERRED PROVIDER ORGANIZATIONS
Whitney Equipment Co Private Health Care REAL ESTATE
Re/Max Northwest
recent success story
GLY Construction SIZE 18,500 RSF
CHALLENGES
LOCATION 200 Building, Bellevue; 3rd floor
Locating a Class A office space with the visibility, direct access to major arterials and ability to put GLY’s “stamp of approval”
ASSIGNMENT
all posed challenges, and when you add in the parking required
Pacific Real Estate Partners, Inc. was hired as a Tenant
and sustainability desire, the costs exceed our budget financial
Representation Broker to represent GLY in the relocation of its
parameters.
current Bellevue headquarters. RESULTS OBJECTIVE
On time and as promised, PREP located and negotiated a new
PREP’s objective was to find a CBD or close-in suburban Bellevue
lease at a new location, the 200 Building – a Class B, 3-story
Class A office space with direct access from either I-405 or I-90.
suburban Bellevue office building. The 200 Building allows direct
GLY, through our Tenant representation process, determined they
access to I-405, premier signage, top floor tenant, and a 3/1,000
needed 18,000 – 19,000 rentable square feet on a single floor with
sf parking ratio at no cost. GLY will convert the building to a LEED
a minimum of 3/1,000 SF parking ratio. Sustainability, visibility,
Certified building and move the class of the building from Class
and ability to incorporate GLY’s “Value-Add” in building out the
B to Class A. PREP exceeded the targeted financial objectives
premises were all crucial elements in our search parameters.
and provided GLY with an ideal building to house their new headquarter location.
recommendations
February 12, 2010 To Whom It May Concern: We are writing this letter of recommendation as a follow up to the recent outstanding experience that our firm had working with Pacific Real Estate Partners, Inc.. The PREP team has worked diligently on our behalf to secure our last two lease agreements and has always positioned our firm’s facility commitment to provede us the best chance of success in our business. In this most recent transaction, the PREP team was able to leverage the market conditions to secure an early renewal agreement that immediately saved us 12% in base rent and was accompanied by an aggressive package of free rent as well as modest tenant improvement concessions. PREP was also able to negotiate an early termination clause and expansion rights which give us the flexibility to grow or downsize, as necessary, moving forward. Furthermore, the PREP team went well beyond the typical basic services and assisted us in a full Operating Expense review process to ensure that we were paying fair rates for our common area expenses. Their services included an additional analysis of our risk for potential long-term capital costs in our leasing agreements, which were addressed in the new lease agreement to mitigate any potential unforeseen surprises in the future. We wholeheartedly endorse hiring Pacific Real Estate Partners, Inc. to handle the facility planning and lease negotiation process, and plan to continue to use their services in the future. Sincerely, Sportworks Northwest, Inc.
January 12, 2011
To Whom It May Concern: I am writing this letter of recommendation regarding the recent outstanding experience that our firm had working with Mark Flippo and his team at Pacific Real Estate Partners, Inc. They have worked diligently on GeoEngineers’ behalf to negotiate multiple lease agreements and have always negotiated positive and favorable terms for us. In this most recent transaction, the PREP team was able to leverage their market knowledge to secure below market rental rates and negotiate an aggressive package of tenant concessions as well as an aggressive tenant improvement allowance. PREP was also able to negotiate an economic lease clause which provides us security and protection as we move forward in our leases. Furthermore, the PREP team went well beyond the typical basic industry services and assisted us in a full Operating Expense review to ensure that we were paying fair rates for our common area expenses. We highly recommend Pacific Real Estate Partners, Inc. to handle the tenant representation process, and plan to continue to use their services in the future. Sincerely, GeoEngineers, Inc.
S EATTLE | B ELLEVUE | TACOMA | OLY MP IA | P OR T LAND
www.pacific-re .co m