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May 26, 2005
ScanlanKemperBard Cos. is pursuing projects in Southern California. It is working with two other Portland-based companies, Williams & Dame and Gerding/Edlen Development, on Elleven, the first new from-the-ground-up condominium in downtown Los Angeles since the 1980s. SKB also has acquired 200 & 300 Corporate Pointe, a two-building, 204,000-square-foot office in Culver City, Calif., for $39.8 million from a joint venture of The Praedium Group and Birtcher Properties. Closer to home, SKB is investing in the South Waterfront in Portland by backing high-rise residential projects of Williams & Dame and Gerding/Edlen Development, including the John Ross, which is breaking ground this month. Also, SKB has acquired the Lake Place Shopping Center in downtown Lake Oswego, Ore., for $6.14 million. The 50,000-square-foot center is 94 percent leased, and will be managed by Cushman & Wakefield. SKB, founded in 1993, specializes in West Coast projects with total capitalization in the $10 million to $50 million range. To date, SKB's portfolio activity is in excess of $1.2 billion and 12 million square feet.