In 2008 Drs. Ellen Wenzel and Zarko Kajgana made a decision to locate their Podiatric practice here in Clark County. Both had completed their training and residency, having matriculated from Scholl College of Podiatry at Rosalind Franklin University in 2007 and been Board certified by the American Board of Podiatric Orthopedics and Primary Podiatric Medicine.
They set up “shop” out along Mill Plain Boulevard near 131st street and started contacting and taking referrals from other physicians. Almost five years later they have grown the practice to the point where they could complete the purchase of their own building.
Congratulations are in order as in October the pair purchased Suite 240 at the Pacific Crest Center, located at 601 SE 117th Ave in East Vancouver, adjacent to the Cinetopia Theater. There they join other professional as Dr. David Vursheryn, Rebound Orthopedics.
Check out their website at Ankle and Foot Physicians and Surgeons
We’ll lead this post with passing out some sincere and well deserved accolades to the South West Washington Community Foundation for planning and executing a great community wide event on Sept 18th – Give More 24! Designed to create a much wider reach to community members who might not attend the many fundraising events we see every week. The final total for this 24 hour event was over 475,000 dollars. Wow!
In addition the past two weeks the Community Foundation has transitioned into new office space moving from Officers Row where they were housed for over a decade into the Esther Short building just west of Esther Short park. This property was acquired in the spring of 2014 from the City of Vancouver by David Copenhaver of Acorn Acquisitions.
Copenhaver is partnering with Davidson Insurance, LSW Architects and Stryker Financial in ownership of the building. The building has been completely redone in the interior ( by Terry Fredriksen so you know it is spectacular) and the exterior with beautiful new landscaping and a fantastic community room. This is one of several projects Acorn is developing in our downtown core.
The move by the Community Foundation is one step in a larger strategic plan to raise the visibility of the Foundation within our community. The ultimate goal ; Create significant growth in their capacity to stimulate giving and create funds that can be used to tackle generational poverty issues.
With Give More 24! being the first major initiative in this process – we think they are off to a great start, and look forward with anticipation to watching the next few years unfold.
We at Coldwell Banker Commercial were honored to be part of the search and negotiating team that helped Jennifer Rhoads and her team select this spot and again send many kudos their way.
Summer is definitely on the down hill slide. Kids are back to school, and it is time for us to present another session of Commercial Property 101 so that you can make 2014 the year you transitioned to owning your commercial property. This is a 90 minute workshop. You’ll get an overview of how over the past two years more than three dozen local companies have made owning their commercial property part of their business strategy.
You’ll learn how you can use an SBA 504 loan to qualify for making only a 10% down payment- protecting your working capital. In addition the SBA 504 can make it possible to have a below market interest rate that is fixed for twenty years. What that means is that you can keep you real estate costs from rising with inflation each year, which over the long haul will make you more profitable, improve your competitive position and generate more wealth through equity build up.
We’ll have a twenty five year veteran of the construction industry talk to you about the pitfalls you face during the permitting process, and how you can actually make a partner of your city or county to reduce development time . Check out the Commercial Property Success Series link on our website- www.yourfuture-own-it.com
When will the Fed decide it is time to let interest rates rise?
Members of the Federal Reserve Board have a very active end of summer, with a conference in Jackson Hole and then their upcoming Quarterly policy meeting September 16 and 17.
The majority on the Fed thinks the economy needs more time to heal and that a rate hike sooner than necessary would damage growth. John Williams of the Federal Reserve branch in San Francisco, which covers the Pacific Northwest was interviewed recently and says more time at these lower rates is the preferred strategy. There is a hawkish minority that thinks the Fed should act very soon to normalize monetary policy or risk higher inflation, but others have been very vocal they see the inflation risk as much less dangerous then allowing brakes to get put on the employment momentum.
One very interesting dynamic as we move into 2015, almost one third of the Fed board positions will change over which could certainly impact the policy direction.
What will be the impact on commercial real estate activity? For now we recommend as we have for the past four years. Rates are stable, and remain at historic lows. If you have borrowing needs, consider this as a good time to get with your banker. If you are ready to move from leasing to owning and want to use an SBA 504 loan, rates are still in the low 5 % range this month, but those loans often fund 6 to 9 months after you purchase a building. Move into action now.