Liberty Theatre lease includes new technology

Rand Thornsley’s plans also include sales of beer, wine and ice cream

Rand Thornsley (second from left), managing director of The Rootstock Capital Management LLC, prepares to sign a five-year lease with Gary and Marilyn Webberley, owners of the Liberty building through Fourth Avenue Liberty LLC. Greg Goforth (second from right), a commercial real estate broker with Coldwell Banker Commercial, Jenkins & Associates, represented both parties. Thornsley plans to offer 3D presentations this summer and open an ice cream and sandwich shop next to the theater in July. He hopes to apply for a beer and wine license in June and start serving by Oct. 1. The May 7 lease signing ceremony was attended by several representatives of the Downtown Camas Association. Dawn Feldhaus

By Dawn Feldhaus
Camas-Washougal Post-Record
Tuesday, May 14, 2013

The Liberty Theatre in downtown Camas is expected to get a new lease on life this summer — with 3D presentations on the main screen and an ice cream shop next door.

Rand Thornsley, managing director of The Rootstock Capital Management LLC, has signed a five-year lease with Gary and Marilyn Webberley, owners of the Liberty building through Fourth Avenue Liberty LLC.

The theater is located at 315 N.E. Fourth Ave.

The new lease is the result of six months of negotiations between the Liberty’s management and the building’s owners.

“The original lease was two years into the five-year lease term, and we renegotiated it for another five years,” said Greg Goforth, a commercial real estate broker representing both parties for Coldwell Banker Commercial, Jenkins & Associates.

Thornsley actively lobbied the state legislature to get beer and wine sales approved for independent theaters to help seal the deal.

“Getting the legislation approved was a key element and could not have happened without the support of Camas Mayor Scott Higgins and the Downtown Camas Association,” Thornsley said.

Gov. Jay Inslee is expected to sign legislation today that clears the way for the theater’s beer and wine sales. It will be up to the Washington Liquor Control Board to establish the rules and management.

Thornsley hopes to apply for the license in June and start serving beer and wine by Oct. 1. After Rep. Jim Moeller (D-Vancouver) sponsored House Bill 1001 at the start of the legislative session, the process wound through committee hearings.

“With the help of Sen. Ann Rivers (R-La Center), we were able to get the legislation to the Senate floor and on to the Governor,” Thornsley said.

The initial plan will be to serve beer and wine in a 21 and older setting in the main theater’s balcony and in the Granada Studio. If there is more demand than those two areas are capable of offering, service will be added to a cordoned off section of the main auditorium at a later date, pending Liquor Control Board approval.

To support the purchase of new digital projection equipment for the two Liberty auditoriums — a cost exceeding $110,000 — additional revenues were required in order to commit to a repayment plan.

With the addition of beer and wine sales for the adult patrons, the Liberty management was able to draft a financial plan that would make it possible for a five-year rent commitment that allows the building’s owners a return on their investment for the new equipment.

The Webberleys have put up the funds to buy the equipment, and Rootstock will repay the investment. The new equipment is scheduled to be installed at the end of this month.

Thornsley said the new projection system had to happen.

“Film studios are phasing out the distribution of 35 mm film prints,” he said. “Over 80 percent of the country’s theater screens have already switched to the new digital technology. Most of the larger theaters operated by corporate chains and some independents were able to get the new equipment with subsidies from the studios.

“Unfortunately, the Liberty and many other theaters in small communities didn’t have a qualified business plan or produce enough revenue to receive those subsidies,” Thornsley added.

He plans to have a new silver screen and RealD technology installed in early June, and he hopes to have a selection of 3D showings on screen by June 14. Films that have not been available on 35 mm film will now be able to be shown at the Liberty as well.

The new equipment includes new, upgraded sound systems for the Liberty and Granada screens.

“The 2K digital picture is very crisp and always in focus with even lighting from side to side,” Thornsley said. “There is no moving film to get scratched, so every showing is as good as the first.”

He plans to open up the former coffee shop space in front of the theater in July. It will feature 16 flavors of hand-dipped ice cream, as well as sandwiches, wraps and salads. Food served in the new storefront will be allowed into the theater.

The 350-seat Liberty Theatre was built in 1927 and restored in 1996 after a fire gutted the interior two years earlier. Renovations and upgrades were overseen in 2011 by Thornsley.

For more information, call 859-9555 or visit www.camasliberty.com.

Link to Full Article

Derek Federinko, First Quarter 2013 Top Producer

Derek Federinko, has been awarded Top Producer for the 2013 first quarter, with Coldwell Banker Commercial Jenkins & Associates. Derek Federinko has been with Coldwell Banker Commercial Jenkins & Associates since 1998. He brings knowledge and experience in the sales and acquisition of retail investment properties. He has negotiated numerous retail net leased transactions nationally and is a strong contributor to the success of the investment division. Derek has become a highly recognized commercial real estate agent.

Derek is a member of ICSC (International Council of Shopping Centers). ICSC researches regional economic trends in North America and abroad to help members solve problems and increase profitability. Analysts produce updates on the economic impact of shopping centers, tenant sales in malls and center revenues and expenses.

Thank you Derek from everyone at Coldwell Banker Commercial. We appreciate your expertise and dedication to success.

The Real Estate Roundup 05/06/13

City of Vancouver has purchased 4.82 acres of industrial land at 9600 N.E. 130th Ave., Vancouver, from TFG Investment. Kelly Shea of Coldwell Banker Commercial Jenkins & Associates represented both parties.

Full Article

City’s pre-lease program paying dividends

Submit an application and wait. Play phone-tag. Alter and adjust your plans. Resubmit your application and wait some more. It’s an all too familiar act for business owners who have bought or leased a pre-existing building in the past.

With more of an emphasis on economic development, the city of Vancouver wants the business community to know this: the process doesn’t have to be so frustrating.

“There’s a lot of talk about being open for business and being business friendly,” said Chad Eiken, community and economic development director for the city of Vancouver, “and a lot of cities promote that, which is a great thing. But this is really one way we can show that we mean it – that we’re here and we want to help businesses succeed.”

Eiken is referring to the city’s three-year-old pre-lease program, which is running with renewed momentum in 2013 thanks to a few new resources, such as Johnnie Hildreth, the city’s business assistance coordinator who is now spearheading it.

The program involves arranging a complementary walk-through with several city department contacts for businesses thinking of buying or leasing space in downtown Vancouver. Participating departments include:

• Land use planning – to address zoning and parking requirements
• Building – an official or supervisor with knowledge of exiting and structural issues
• Fire – fire marshal or deputy fire marshal reviews smoke alarms, detectors
• Permit center – representative with permit application paperwork
• Engineering – to address system development charges (e.g., a restaurant moving into a space that wasn’t previously a restaurant)
• Police – a neighborhood police officer introducing him or herself (on occasion)
• Health – to address the sale of food (when appropriate)
• Liquor control – to address the sale of alcohol (when appropriate)

Such an expansive list of contacts allows businesses the opportunity to identify significant building code or other permitting requirements on the spot, to help them decide whether that space is right for them. Additionally, the process can save prospects and permitting officials time and money.

“I think it’s a great idea,” said Jim West, a Vancouver realtor with Coldwell Banker Commercial who has participated in a handful of walk-throughs with various clients. “For tenants that are small and looking at new buildings, we know there isn’t much to deal with. However, when it comes to some of the more complex or older buildings where there’s going to be some build-out, it can be three or four weeks [into the application process] before we realize that we can’t do it.”

So far this year, the city has held half a dozen or so walk-throughs, and some of them have already resulted in new tenants, noted Eiken.

According to city of Vancouver Economic Development Division Manager Alisa Pyszka, another reason the pre-lease program has been successful (to the point where the city of Battle Ground is now looking to adopt it) is because prospective tenants experience first-hand the lengths that the city is willing to go to support them.

Pyskza used Dirty Hands Brewing, a new brewpub planning to open downtown as early as June, as an example.

“They were amazed,” she said. “Two-and-a-half hours of thoroughly walking through the process really convinced him to locate here.”

The city’s most recent walk-through appears to have had a similar effect, according to West. Earlier this month, two of his clients interested in sharing space inside downtown Vancouver’s 19,000-square-foot Wolf Building (301 W 11th St.) went through the pre-lease program and emerged feeling quite hopeful.

“I’ve had continued discussions with both of the prospects and I think we’re going to move into the letter of intent phase and hopefully getting to the lease phase soon,” said West.

Businesses interested in learning more about the city’s pre-lease program are asked to contact Johnnie Hildreth at Johnnie.Hildreth@cityofvancouver.us.

 

Link to article

The Real Estate Roundup 04/29/13

Advanced Pediatric Therapies Inc. has leased 2,262 square feet of retail space at Andresen Corporate Center, 4201 N.E. 66th Ave., Suite 103, Vancouver, from PBC Development Inc. The anticipated move-in date is June 1. Brett Irons of Coldwell Banker Commercial Jenkins & Associates represented both parties in the transaction.

Crave Grille LLC has leased 1,825 square feet of retail space at Palms Plaza 7, 13025 N.E. Fourth Plain Road, Suite 104, Vancouver. Elena Hopper and Brandi Welter of Coldwell Banker Commercial Jenkins & Associates represented both parties in the transaction.

Full Article Here

What demise of the PC means for real estate

Shift to mobile has already impacted brokers, agents and consumers

By Tom Flanagan, Tuesday, April 16, 2013. Inman News®

I wrote a “post-PC-era survival guide” almost two years ago. The piece was inspired by Apple’s Worldwide Developers Conference (WWDC) in San Francisco where Steve Jobs declared, “We are going to demote the PC and the Mac to just be a device. We are going to move the digital hub, the center of your digital life, into the cloud.”

I discussed how Apple, Google and Microsoft were approaching the cloud. That summer, Brad Inman, founder of Inman News, discussed the post-PC world during his keynote address at Real Estate Connect in San Francisco. He discussed how the post-PC-era was going to reshape the real estate industry and how mobile devices were projected to outsell personal computers.

Fast forward to April 10, 2013. IDC (International Data Corporation) announced that PC sales plummeted 14 percent this quarter, which is the largest decline and worst quarter recorded since the organization began tracking sales in 1994. IDC was forecasting only a 7.7 percent decline. Obviously this is much worse.

“Although the reduction in shipments was not a surprise, the magnitude of the contraction is both surprising and worrisome,” said David Daoud, IDC research director for personal computing. “The industry is going through a critical crossroads, and strategic choices will have to be made as to how to compete with the proliferation of alternative devices and remain relevant to the consumer.”

Another item worth noting in the IDC report is the lackluster launch of Microsoft’s Windows 8.

“While some consumers appreciate the new form factors and touch capabilities of Windows 8, the radical changes to the UI, removal of the familiar Start button, and the costs associated with touch have made PCs a less attractive alternative to dedicated tablets and other competitive devices,” said IDC’s Bob O’Donnell, vice president for clients and displays. “Microsoft will have to make some very tough decisions moving forward if it wants to help reinvigorate the PC market.”

As personal computer sales continue to decline and mobile usage continues to experience exponential growth, I have to ask, where does this leave Microsoft?

The mobile operating system market share is dominated by iOS (Apple) and Android (Google), with the Android platform pulling away everyday. There are certainly many variables that have paved the way for Android’s market share lead.

It reminds me of the early PC days, with Android playing the part of Microsoft Windows. If Android is the Windows of the post-PC-era, where does that leave Windows? To remain vital, Microsoft will need to solidify its value position in this post-PC world.

What does this shift mean for the real estate industry?

The shift to mobile has already significantly impacted brokers, agents and consumers. Brokers are investing in cloud platforms as opposed to expensive in-house infrastructure and are beefing up bandwidth. Real estate agents have chosen smartphones and tablets as alternatives to desktop computers and laptops, giving them access to critical data anywhere.

Consumers have immersed themselves in mobile. They want a fast, holistic mobile experience.

They are ready for the “Latte Vision.”

Joel Burslem, 1000 Watt Consulting, recently described a mobile first solution for real estate. “Mobile first doesn’t just mean trying to cram everything into a 640 x 1136 pixel display. And to date, that’s mostly what we’ve gotten in real estate. Rather, mobile first means radically reconsidering how a mobile user interacts with the data underlying your service. It assumes constant connectivity and should begin to recognize context.”

It’s important to note that this shift has already occurred. The sales of personal computers is not going to magically bounce back. As Mitch Joel stated in “Pay Attention: The End Is Nigh (For The Personal Computer),” the news about the PC “is something that took even the experts by surprise and it’s something that will — without question — lead to a massive shift in how we operate. If the personal computer business is imploding, this means that how we work and what we do will radically change as well.”

If you think the mobile and technology space has changed dramatically in the last two years, just wait.

Tom Flanagan is the director of information technology at Residential Properties Ltd. in Providence, R.I. You can contact him at tflanagan@residentialproperties.com or @tflan on Twitter.

Link to original article location here.

The Real Estate Roundup 04/15/2013

Bogdan N. Bodroug has leased 2,500 square feet of retail space at Four Seasons Shopping Center, 2710 N.E. 114th St., Suite 5, Vancouver. Brett Irons of Coldwell Banker Commercial Jenkins & Associates represented both parties.

The Children’s Centerhas purchased an office building on 1.65 acres from Gerald D. Breunig and Diane M. Rorhback for $585,000. The site is at Southeast 136th Avenue and Southeast Seventh Street, Vancouver. Gordon Lewis of Coldwell Banker Commercial Jenkins & Associates represented the seller.

SL Property LLC has purchased a 15,000-square-foot retail building at 109-115 W. Seventh St., Vancouver, from 3 Dragons Investment LLC. The purchase price was $1,008,000. Gordon Lewis and Ben Yang of Coldwell Banker Commercial Jenkins & Associates represented the seller.