MAJ Development, Two Sites Recognized as VBJ Top Projects

MAJ Development Corporation is being recognized yet again for its superior work in achieving brilliantly designed and constructed developments as well as enriching the City that it calls home. The Vancouver Business Journal has released its list for the Top Projects of 2013 and awards will be held at the Parade of Homes in Vancouver on July 24, 2013. Two sites in Vancouver that MAJ Development Corporation has recently completed will receive the award designation.

The Market at Van Mall is located on the northeast corner of Vancouver Mall Drive and Thurston Way, at the west/main entrance of Westfield Shopping Center. Phase I of this ground up development consists of a 7-Eleven convenience store and a fueling station. Breaking ground of Phase II will begin late summer 2013 and be the new home to Popeye’s chicken, which is expanding into the SW Washington market with its soon to be third store. Crossroads at Mill Plain & 164th project consists of a multi-phase re-development and expansion which is located at the conjunction of two of main arterials in Clark County. The site currently has a new 7-Eleven convenience store with fuel, and a 6,500 Sq./Ft. retail building which is home to ZoomCare and Sleep Country, dba Mattress Discounters.  Allstate Insurance, Fisher’s Landing Chiropractic, Van Care, Inc., and State Farm Insurance take up the balance of the first phase. The second and third phase is still to be determined; however, MAJ Development Corp. expects to add several new national retail tenants to the site.

This is not the first time MAJ Development has been recognized as a leader in brining exceptional developments to Clark County, Washington. The first site to be recognized by The Vancouver Business Journal for its excellence was the Palms Plaza Retail Center which is home to the new 24-Hour Fitness Super Sport and several other national and local tenants.

 

View The Complete List of Projects Here

Crave Grille Coming Soon to The Palms Plaza

June 28, 2013

Palms Plaza, the unique Mediterranean inspired center landscaped by Windmill Palm trees and home to Vancouver’s only 24-Hour Fitness Super Sports, will soon welcome CRAVE grille to the center. CRAVE grille is a contemporary casual restaurant that offers delicious American cuisine. Their goal is to bring all the details necessary from the first contact to the last bite, and exceed the expectations of their guests. CRAVE grille features a quaint modern flair, and a friendly comfortable atmosphere. Along with a blend of wonderful food, and superb service which ensures an unforgettable experience. The restaurant features freshly made pastries to mouthwatering burgers. CRAVE grille leased 1,825 square feet and will host indoor and outdoor patio seating.  Anticipated to open doors in mid-July with a brand new interior space, a newly refined and customized menu and also a full bar, just in time for summer! Palms Plaza is excited to welcome such an outstanding company to the center. Stop by for one of the best meals in town, we are sure you’ll CRAVE for more!

Clark County Waives Fees: Jobs May Develop

Consider the floodgates open.

In another political victory for Clark County Commissioner David Madore, his plan to eliminate all traffic impact and permit fees for nonresidential development was approved Tuesday by a 2-1 vote of commissioners.

The move is a keystone in Madore’s plan to crack “open the floodgates” of jobs, a campaign promise the first-term commissioner touted during his successful bid for election last year.

The plan expands on the county’s previous fee holiday by removing job creation requirements for new businesses and eliminating all costs for retail developments.

Madore, a Republican, found support for his expanded fee holiday from fellow Republican Commissioner Tom Mielke.

While it is a projection — and Madore’s hope is that new taxes from the influx of business will bridge the gap — the county estimates the general fund burden will increase by $4.8 million over the coming year-and-a-half because of the changes.

Madore has said for months he would like to keep the new fee waiver in place until unemployment numbers in Clark County drop below the state’s level. Mielke made it clear Tuesday that commissioners will be monitoring the program closely.

Noting that he doesn’t expect the new waiver to be perfect right out of the gate, Mielke introduced an amendment to the resolution that allows the board to immediately terminate the waiver if necessary.

“There’s no such thing as a failure,” Mielke said. “You might fumble along the way, but you still pick up and move until you reach that goal.”

And while Madore has long likened the expanded waiver to an “experiment” worthy of looking at, Mielke described it as more like a roll of the dice in a dire economic time.

“This is unproved; it’s a venture,” Mielke said. “And I think that we’re well justified in taking this gamble to step forward. We’re able to do this because our staff … has saved millions of dollars by changing the way we do things. And we are still in the process of making savings.”

Meanwhile, Commissioner Steve Stuart, a Democrat, voted against the resolution, saying the potential reward did not appear worth the risk.

“I’m not comfortable with the gamble right now,” Stuart said.

Stuart later pointed to the projected impact of new waiver on the county’s general fund as basis for his concern.

In an effort to limit that impact, Stuart introduced two amendments: One would limit the fee reduction for retail stores paying less than a median wage, and another would cap the amount waived for large projects.

Madore dismissed the amendments, saying that all jobs are of equal importance at this point.

And as Stuart and Madore debated the merits of the limitations the board’s lone Democrat wished to see added, a pensive Mielke furrowed his brow and listened on.

After asking staff to crunch numbers, Mielke decided to stick with Madore and vote against Stuart’s amendments, saying, “If you don’t have a job, there’s no such thing as a bad job.”

Stuart did get Mielke to join with him in an amendment to keep the waiver from being offered to businesses simply relocating without increasing their workforce. And commissioners unanimously approved other amendments to keep monitoring job-creation numbers as the fee waiver moves forward.

Stuart said that while he was outvoted on the matter, he would continue to be “Jiminy Cricket” upon his fellow commissioners’ shoulders, reminding them of critical services the county must continue to fund.

The expansive fee waiver has seen its share of foes in recent weeks. At a May 7 evening meeting of commissioners, the concept was met with wide dislike from the public. Other county elected officials, including Republicans, also told commissioners the plan seemed half-baked.

At Tuesday’s meeting, 14 members of the public spoke on the matter, all against the proposed fee waiver.

But Madore stuck to his plan. And after the vote Tuesday, Madore said he believed the unemployment rate in the county is hovering around 20 percent.

“That’s a crisis,” Madore said. “And crisis demands we do something about it. … If anyone in this community finds a better way for us to do things better, to get our county back to work, to do something about it, please share it with us. Because we have to do what we can. Sure, we’re talking about jobs, we’re talking about economy; but we’re talking about people.”

And while Madore is all in, and Stuart is out, Mielke summed up the mixed feelings of the board of commissioners on the path ahead.

“I’m excited,” Mielke said. “And a little shaky at the same time.”

Erik Hidle: 360-735-4547; http://twitter.com/col_clarkgov; erik.hidle@columbian.com

 

 

MAJ Development Sells 7-Eleven Site for 1.56 Million

The developers of a Vancouver 7-Eleven store on St. Johns Boulevard sold the site this month for $1.56 million to an unidentified private investor.

Vancouver-based MAJ Development Corp. and partners originally paid $595,000 for the commercial site, a former branch of First Independent Bank at 4500 N.E. St. Johns Blvd. MAJ redeveloped the existing building into a convenience market, which it then leased to 7-Eleven before selling the property.

MAJ Development Corp. is owned by real estate broker Michael Jenkins, also the owner of Coldwell Banker Commercial Jenkins Associates.

In 2009, MAJ landed a lucrative contract as the West Coast’s preferred developer for Dallas-based 7-Eleven Inc. MAJ has so far developed more than 50 convenience stores, some with attached retail projects, for 7-Eleven, including several stores in Clark County, where the chain continues to expand its market share.

 

The Columbian – April 6, 2013

Buyers Expect to Pay $3.6M for Downtown Building

A downtown Vancouver office building is being sold for $3.6 million to local investors, about eight months after it was acquired by West Coast Bank in lieu of foreclosure.

Real estate broker and developer Michael Jenkins expects to purchase the site with Darryl Horowitz of National Investment Finance in Vancouver. It will become headquarters for Jenkins’ two Vancouver-based companies, Coldwell Banker Commercial Jenkins Associates and MAJ Development Corp.

The building was previously owned by 314 West LLC. Tom Dennis, principal administrator of HDJ Design Group, and Brian Hopper, principal emeritus of the Vancouver firm were two registered owners of the LLC, which spent $4.1 million to expand and upgrade the building in 2007, just before the nation and Clark County slipped into the worst economic recession since the 1930s.

“The building just got too expensive for them,” Jenkins said.

He said HDJ Design Group will continue to occupy 5,000 square feet of space as office tenants in the upscale structure on the corner of West 15th and Columbia streets.

Jenkins foresees profitability in his plan to purchase the building at a reduced price, as he expects the site to appreciate in value. “And there are tax advantages when you own your own building,” he said.

Jenkins expects to move into the building in mid October, bringing four employees of MAJ Development Corp., which three years ago landed a lucrative contract as the West Coast’s preferred developer for Dallas-based 7-Eleven Inc.

Jenkins’ company has so far developed more than 50 convenience stores, some with attached retail projects, for 7-Eleven. The projects include several stores in Clark County, where the chain continues to seek new market share.

Jenkins also will move 20 employees of Coldwell Banker Commercial Jenkins Associates from leased downtown space into about 8,000 square feet in the building he is buying. Jenkins recently became the sole owner of the commercial real estate company, buying out longtime coprincipal Bob Bernhardt, who remains a broker in the firm.

Horowitz’ National Investment Finance will take up about 5,000 square feet of office space in the building and Compound Photonics will continue to lease space at the site. The deal to purchase the building is in escrow and has not closed.

Editor’s note: This story has been modified to reflect correct information.

 

Full Article

by Cami Joner

The Columbian – August 20, 2012

Coldwell Banker Commercial Gets New Building, New Name

Local real estate agent Michael Jenkins is now the sole owner of Coldwell Banker Commercial (CBC) in Vancouver after buying out his partner, Bob Bernhardt. The agency, which will operate under the name CBC Jenkins & Associates, is also planning on moving into a new, larger building this fall.

“It has been in the works for a while,” Jenkins said, regarding the buyout. “[Bernhardt] wanted to be more of an agent as opposed to remaining in ownership. He’s still an active agent here at Coldwell Banker.”

As for the move, CBC will reach the end of a seven-year lease at its current location (1500 D Street) in October. During lease negotiations, Jenkins said, an opportunity came up to purchase the Hopper Dennis Jellison (HDJ) Building, near the intersection of West 15th Street and Columbia Street, for $3.6 million.

“It was a good opportunity for us,” noted Jenkins. “It’s big that we’re staying downtown.”

Also moving to the HDJ Building in the fall is MAJ Development, Jenkins’ commercial development company. MAJ has been involved in the development of 7-Eleven stores, 24 Hour Fitness locations and other properties in Portland, Vancouver and Seattle.

The new location will give Jenkins and his staff roughly 2,500 square feet of extra room – something he said has been sorely needed for some time.

“We didn’t have an opportunity to grow anymore (at the D Street location). All offices were taken,” explained Jenkins. “Even if we wanted to hire, we couldn’t hire because there was just no room. But now we will have three to four extra offices and room to grow. Our full intent is to bring on some good agents now.”

Jenkins stressed that he wouldn’t have bought Bernhardt’s share of the company or purchased the HDJ Building if he wasn’t confident about the future of the commercial real estate market in Southwest Washington.

“Two years ago, I probably wouldn’t have done it,” Jenkins noted. “But right now, we’re profitable, we’re doing well and that’s what allows us to go and buy a $3.6 million office building. We wouldn’t be doing that if things weren’t good.”

 

Full Article

by Nicholas Shannon Kulmac

VBJ – August 17, 2012