Instant, which oversees four million-plus square feet of Managed Office leases globally, conducted a search to build out and deliver a turnkey research and development office for Jaguar Land Rover.
The Instant Group, the largest global marketplace for flexible workspace, has signed a 50,000-rentable-square-foot lease for Jaguar Land Rover (JLR) for Redfox Commons at 2638 NW Wilson Street in Portland, Oregon.
JLR will be the first company in the standalone, single-tenant, on the campus, which has an alternate address of 2034 NW 27th Ave. Instant secured the space and will work to deliver to spec a preeminent office for JLR engineers and designers working on technology and software for its vehicles. This includes the creation of a research and development space and a collaborative workspace environment that is design and experience led. JLR is expected to move into the space in Summer 2024, and Instant will deliver hospitality-led operations through its Managed Office product.
The Managed Office product affords companies a unique way to procure and deliver space - on time and on budget – incorporating tenant’s brand and office specifications while Instant aligns financial terms to adhere to client needs, and then assumes both the lease and management of the space. Globally, The Instant Group manages over four million square feet of Managed Office for large multinational companies.
Developed by Langley Investment, a woman-owned, private real estate investment company based in Portland, Oregon, in partnership with Belay Investment Group, Redfox Commons is an award-winning timber-framed converted warehouse with the original bow and scissor trusses preserved. The property’s distinguished design features have been noted by the American Institute of Architects (AIA) Honor Award and the DeMuro Award for Excellence in Preservation, Resue, and Revitalization, among others.
“JLR is a key global client, with multiple, full-service Instant Managed Offices across the world. They came to us for our delivery expertise, our financial structuring which made their dream location possible, and hospitality-rich services to elevate their experience and brand. We reimagined the Redfox Commons, through sustainable practices, to enhance JLR’s innovative R&D collaboration hub today and into their future," said Nestor Eliadis, Americas Executive Vice President, Real Estate and Development, The Instant Group.
The Instant Group and JLR were represented by Daren Duke of Colliers International, and Langley Investment was represented by Tom Usher of Cushman & Wakefield and Alexandra Henderson and Grant Guernsey of Kidder Mathews. JLL is the property manager, while The Instant Group will manage Redfox Commons for JLR.
For more information about The Instant Group’s Managed Office product, please visit https://www.theinstantgroup.com/en-us/flexible-workspace-solutions/
About The Instant Group
The Instant Group has been rethinking workspace since 1999 with over 600 experts working globally across more than 175 countries. Instant’s digital platforms constitute the world’s largest digital marketplace for flexible workspace listing meeting rooms, virtual offices, flexible office space and coworking memberships. Its global team advises on commercial real estate solutions from serviced offices to fully customized managed offices, and consulting services for portfolio and net zero strategies. Instant’s approach enables agility, hybrid working solutions and improved operational resilience for more than 250,000 businesses every year. Clients include Prudential, Booking.com, Shell, Jaguar Land Rover, and GSK. Instant has global offices including London, Paris, New York, Hong Kong, Singapore, India, Mexico City, and Sydney.
About Langley Investment
Langley Investment is a real estate investment management firm based in Portland, Oregon. Langley Investment seeks to achieve superior risk adjusted returns on behalf of select investment partners and as an owner/operator. Utilizing capital markets expertise and local market knowledge, Langley Investment targets core-plus, value-add, and opportunistic real estate strategies across product type. Langley Investment is a Woman Owned Business with an established market presence evolving over multiple real estate cycles in the Pacific Northwest.
About Belay Investment Group
Belay Investment Group, LLC is a real estate investment management firm that pursues equity and debt investment opportunities across all property types, primarily middle-market infill properties in urban/suburban transit hub markets, on behalf of its institutional investors. Belay implements its investment strategies through long-term programmatic relationships with high caliber, local operating partners and sector specialists. The firm has earned a reputation in the industry for supporting the growth and development of operators (including diverse firms), beyond providing investment capital.
