DLA Piper advises owner on Tanner Point lease agreement with Brainium Studios
DLA Piper represented the owner of the Tanner Point building in Portland, Oregon, in the negotiation of a lease agreement with Brainium Studios LLC, a mobile game app developer. The company will relocate its headquarters to the building’s sixth floor, which spans 22,599 square feet, beginning in the spring of 2021. The eight-story Class A office property is located at 1250 NW 9th Avenue and offers tech-enabled creative office space.
Located in Portland’s Pearl District, Tanner Point is surrounded by a unique collection of restaurants, boutiques and homegrown retail stores, art galleries and fitness facilities. Landscaped parks and outdoor gathering spaces add green space to the vibrant neighborhood, which is easily accessible via I-405 and I-5. Portland International Airport is a 20-minute drive from the property.
“The level of professionalism and excellence that both sides brought to the negotiating table stood out in this deal. It allowed us to complete lease negotiations in a streamlined way and to carry a spirit of goodwill into the buildout phase of this tenancy,” said Casey Sobhani, DLA Piper partner and head of leasing for the firm. “The fact that a lease of this size could be completed in the current economic and social environment speaks volumes about the appeal of Tanner Point and its desirability to prospective tenants. At a time when new leases are relatively rare, this is the third new lease at Tanner Point in 2020.”
Tenants at the LEED Silver-Certified Tanner Point, which was completed in 2018, have access to CBRE Global Investors’ proprietary “Above & BeyondTM for Business” tenant experience program. The A&B implementation at Tanner Point includes an A&B Fit state-of-the-art fitness/wellness center with spa-quality changing rooms and showers; A&B training and conference facilities, complete with a wi-fi lounge and private call rooms; and access to the exclusive Host mobile app, which creates an employee-centric workplace experience by connecting users to building and neighborhood amenities and services tailored for Tanner Point. Driving home the idea of hospitality in the workplace, the A&B platform also features an on-site A&B manager who curates a broad range of services that allow tenants to create, connect and thrive.
“Tanner Point delivers a first-class workplace experience that embraces the technology-enhanced lifestyle sought by some of today’s most successful companies,” said Mark Zikakis, head of Commercial Asset Management-Americas for CBRE Global Investors. “As owners and operators of institutional commercial real estate, our firm also believes in cultivating a strong community-driven environment and facilitating organic professional relationships, which are crucial to our tenants’ success. We believe that CBRE Global Investors’ proprietary A&B program has helped develop a culture at Tanner Point that supports tenant growth and satisfaction.”
Tanner Point also boasts two roof terraces with river views, on-site bike storage and a repair station, and an on-site parking garage. The ground floor of the building features the newly opened Cooperativa, a modern Italian marketplace and food hall offering locally sourced charcuterie, coffee and fresh pasta and pizza that are available for take-out or on-site dining at the property’s expansive outdoor seating area.
“We are excited to welcome Brainium Studios to Tanner Point,” said Trevor Kafoury, executive vice president at CBRE, Inc., who represented the landlord in the transaction along with Kevin Kaufman. “This is a huge win for CBRE during these challenging times and it is a testament to Tanner Point’s compelling A&B tenant culture, its unique programming, and the property’s desirable location in an extremely competitive landscape.”
DLA Piper's Real Estate team offers a full range of services in areas including, among other things, acquisitions and dispositions, construction law, financing, commercial real estate, land use, planning and development, leasing, environmental law, insurance and tax.
