New Central Eastside Project Ideal Fit for Creative Company’s Brand Identity
PORTLAND, Ore. (August 16, 2018) – Portland-based Roundhouse Agency, a growing, independent, full-service creative agency, will be relocating and expanding its corporate headquarters to Custom Blocks, a freshly repurposed creative campus prominently located in Portland’s Central Eastside Industrial District. Roundhouse Agency signed a lease for 16,200 square feet (sf) of space within the campus’ North Block building located at 975 SE Main, Portland, Oregon. The creative company was represented by Brad Carnese of Cushman & Wakefield in the transaction
Custom Blocks, which recently completed its metamorphosis from an older manufacturing campus originally built during the 1940s and 1950s to a new fully renovated 72,000-sf Class A creative and technology oriented office project, is owned and was developed by Capstone Partners and its joint venture partner Premium Property USA. Mark Carnese and Doug Deurwaarder also of Cushman & Wakefield along with Brad Carnese represented the owner.
“We are delighted to welcome Roundhouse Agency as part of our growing tenancy at Custom Blocks,” said Chris Nelson, Principal of Capstone Partners. “When we acquired the property in early 2017, we envisioned a new life for this former metal stamping plant that would create a unique workplace opportunity for modern creative services and technology occupiers in the heart of the Central Eastside Industrial District. We are thrilled to attract great companies like Roundhouse to Custom Blocks.”
Roundhouse was founded in 2001 by friends Dana Bainbridge and Joe Sundby, who share in creativity and a love for the outdoors. The growing creative agency provides services across strategy, advertising, branding, digital, social, experiential and retail.
Mr. Sundby said, “A primary reason we selected Custom Blocks as our headquarters is its exceptional identity in the heart of the Central Eastside, which aligns perfectly with who we are as a creative company and where we want to go. In addition, for Roundhouse to have the opportunity to move into this amazing new space that was also once a manufacturing facility means a lot to us personally, as we’ve always considered ourselves to be a ‘blue collar’ creative shop; yes, we come up with unique, strategically led creative concepts, but as important we also build and execute these concepts into things people can touch, hear and feel. Our hands are always dirty.”
Mr. Bainbridge said, “Our new headquarters will comfortably accommodate our entire employee team plus provide plenty of room for expected growth. The tall ceilings will also allow for vertical expansion within the space. In addition, there are plenty of opportunities to display and create local artists work.” He added, “This great location also puts our employees amidst an array of great restaurants, old and new brewpubs and bars plus other amenities to step out and enjoy while further ingraining into this vibrant and emerging community. Furthermore, its central location also invites the beneficial convenience of public transit or biking to work.
Roundhouse, which plans to move into their new headquarters later this year, was also very attracted to the overall design and atmosphere offered by Custom Blocks. Mr. Sundby said, “Our space comprises a stable single-floor building with an open floor plan and a great production space for creating unique content for our clients. The old growth timber supports and concrete slab floors lend to our brand aesthetic. There is also plenty of natural daylight and a perfect spot for our own bar.”
Mr. Bainbridge added, “We are also planning to create a retail concept store in the near future as part of our headquarters space to show off our clients’ products along with our own. This effort will be an evolution of our successful ‘Living Off The Brands’ campaign from a year ago.”
Custom Blocks is bordered by SE Madison and Salmon streets, and SE 9th and 10th Avenues, and shares the northwest corner of the property with New Deal Distillery. Close-in neighbors include The Redd, the Goat Blocks, the Cartopia food cart pod, Coava Coffee Roasters, Heart Coffee Roasters, and many other artisanal makers of beer, spirits, confections, food and design.
Brad Carnese said, “Setting a new standard for workspace in the Central Eastside, in addition to creative office uses Custom Blocks is also ideal for light assembly or high-tech production and currently offers available spaces of 7,000 square feet up to 23,000 square feet. In curating the balance of the building we are also currently working with a handful of other new tenants which we are excited to hopefully announce soon.”
On October 11, 2017, Custom Blocks became part of the newly-expanded East Portland Enterprise Zone, a program begun in 1986 to encourage development on Portland’s East Side, which includes tax incentives for qualified companies.
About Roundhouse Agency
Roundhouse was founded in 2001 by Dana Bainbridge and Joe Sundby, two friends with a shared talent for creativity and a love of the outdoors. Today, Roundhouse is a growing, independent, full-service creative agency providing services across strategy, advertising, branding, digital, social, experiential and retail. As our agency and client base continue to expand, we strive to maintain the same unique point of view and thoughtful intensity we started with. After all, we know our best work comes by partnering with brands we’re passionate about. For more information visit http://roundhouseagency.com
About Capstone Partners
Founded in 2002 and working from offices in Portland and Seattle, Capstone Partners is a real estate development and investment company with a business focus in the Pacific Northwest. Since its founding, Capstone Partners has developed or acquired more than five million square feet of multifamily, mixed use commercial, Class A office, medical office and retail space representing more than $1 billion in assets. Its assets under ownership in the Portland area include Slabtown Marketplace and the Leland James in NW Portland, Grant Park Village in NE Portland, PDX Logistics Center, and Attwell Off Main in Tigard. In July of 2018, The Portland Business Journal ranked Capstone Partners the largest commercial developer in the Portland Metro area for the fourth year.
About Premium Property USA
Premium Property USA, Inc. is a wholly owned subsidiary of a privately held real estate development and investment company located in Zurich, Switzerland. In 2012, Premium Property entered the US Real Estate market as an active co-developer and majority equity partner of local sponsors in Oregon and Texas. Over the past 16 years, its global development and investment volume has well exceeded the mark of US$ 1,0 billion. The company’s portfolio of assets include apartment and office buildings as well as retail and logistic facilities.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.