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In two and a half years, law firm will move out of its 10 floors of office space at the Standard Building at 900 S.W. Fifth Ave., which the company has leased since it was built, and move into the Park Avenue West Tower, currently under construction.

Stoel Rives is making its move for a significant reason: The 32-story Park Avenue West Tower, once completed, will be one of the most sustainable buildings in Portland. Its developer, , is seeking Leadership in Energy and Environmental Design platinum certification.

The Standard Building doesn’t measure up, brokers say.

Although the move will leave a gaping, 155,000-square-foot real estate hole in the building 鈥� resulting from the largest single move in Portland’s history 鈥� it will also give the building’s owner, The Standard, an opportunity to renovate and rehabilitate the building’s interior.

Trond Ingvaldsen is the assistant vice president of real estate for The Standard. He said there are no concrete plans for the renovation of the building, but a green makeover would be in line with the current philosophy of the company, which is the single largest employer in downtown.

He said the Stoel Rives move was to be expected; competition is becoming too stiff.

鈥淚n (these two years), we have to look at what we can do to the building,鈥� Ingvaldsen said. 鈥淭here are a lot of options in front of us.鈥�

In a world where green buildings continue to rise, it becomes increasingly more important to stay competitive, said broker Tom Usher, who has worked closely with both The Standard and Stoel Rives.

The law firm wanted something that reflected the times, Usher said, in terms of image, recruitment and sustainability. The Standard Building, in some ways, is dated.

For example, the building, finished in 1971, still has its original ceiling system. It’s a restrictive coffered system because of its five-foot grid, rather than the common two-foot grid. This means there are five-foot squares, with a recessed light inside. Due to the enormity of the ceiling grid, the size and layout of the offices are restricted and are required to be larger.
There is a bright side to Stoel Rives’ departure, Usher said: if building renovations occur after the firm leaves, they may happen more quickly.

鈥淭he cost to do it in less time will be significant,鈥� Usher said.

The Standard had attempted to keep Stoel Rives in the building by presenting rehabilitation options during lease renewal negotiations. Instead, renovations can conceivably take place on a larger scale when the firm vacates.

鈥�(In the past), every time we renewed Stoel Rives’ lease, we’ve had to perform some upgrades to the building,鈥� Ingvaldsen said.

Stoel Rives’ principals felt restricted not only by the office’s layout, but also by the lack of suitable office space in downtown.

鈥淥ur options (for moving) have always been somewhat limited,鈥� said Stoel Rives principal Bob Van Brocklin, adding that the company takes up more space than is typically available. 鈥淲e’ve had options, but we haven’t had a long list of options.鈥�

The Standard Building was, when it was completed as the Georgia-Pacific Building in 1971, the city’s premier office building. Yet through the years, the principals of Stoel Rives have considered moving. They simply weren’t able to find a suitable replacement.

鈥淲e talked about (a lot of places), but we decided when we were talking, that we wanted to be in the downtown core 鈥� not the Pearl and not North Waterfront,鈥� said principal attorney Wally Van Valkenburg.

A problem, however, is that now the massive space being vacated by Stoel Rives may not be conducive to other potential tenants, Usher said.

Yet tenants of the Standard Plaza, located across the street from the Standard Building, such as the , are confident that the company will upgrade the building to LEED certification.

Duncan Wyse, the director of the Oregon Business Council, said he couldn’t ask for a better property manager than The Standard.

From his standpoint, age doesn’t prevent a building from meeting the goals of its tenants.
鈥淗ey, this building (Standard Plaza) is old, but it’s in top shape,鈥� he said, adding that the building has undergone a series of renovations over the years.

In fact, The Standard has recently sought LEED certification for the Standard Plaza. Now it would like to do something similar for the Standard Building in the immediate future. Additionally, the Standard owns a building in Tanasbourne that is certified LEED gold.

鈥淩ight now, everything is on the table,鈥� Usher said. 鈥淢ercifully, we have a little more than two years to look at all of our options.鈥�