HISTORY
Stratus Developers was established in late 2014, after Mike left the position of managing director of CBRE for Oregon. Along with Dirk Otis, Mike operated Wells Otis Development from 2005-2010.
Dirk Otis
Managing risk, accountability, discipline and experience in delivering the vision are integral to a successful real estate undertaking. Dirk has over 30 years of experience in delivering commercial real estate property as a valued investment. Whether complex, large, technical or needing speed in delivery, Dirk has a proven track record of completing projects with successful outcomes.
Dirk was Vice President with Trammell Crow Company from 1995 - 2005 where he oversaw the execution of development and construction throughout the region. He was at Skansa/Baugh Construction with responsibility for construction at Intel. Dirk also served as a project manager for Opus in Phoenix, AZ where he oversaw multiple design/build construction projects.
Dirk is married to Bobbi and they have two adult children, Evan and Amy. Dirk enjoys just about anything outdoors but especially golf and cycling. A LEED accredited professional, Dirk also is a past board member of NAIOP and continues to be active in local land use topics.
THE BUSINESS
Businesses and investors hire us to reduce risk on their commercial real estate projects and improve return on investment. We create commercial real estate property for businesses, tenants and investors. Resources are optimized to maximize the investment and value of a ground up, repurposed or remodeled building. We have extensive experience with industrial, office and mixed use property types.
Mike Wells
Leadership, value creation, integrity and execution are all instrumental in sourcing and delivering successful real estate developments. Mike has over 30 years of transaction and development experience covering the entire lifecycle of commercial developments. With special expertise in the technical, financial and entitlement aspects of real estate, Mike has a proven track record of producing successful development outcomes.
Mike was the local partner for Panattoni Development in the Portland and Seattle markets from 2000-2005 and was a leading broker at Cushman & Wakefield between 1985-2000. Mike also worked as a project manager for a general contractor in 1983-1985. Mike became a LEED Accredited Professional for sustainability in 2008.
Mike is married to LeAnn, and they are actively involved with three adult children: Annie, Jeff and Greg. Mike enjoys skiing, golfing, and fishing. He is a past trustee of the Multnomah Athletic Club, is past president in two instances of NAIOP, is past chair of Institute for Youth Success and is past president of the Board of Directors for Multnomah County Drainage District.
Greg Wells
Previous experience managing commercial tenant improvements construction projects gives Greg a solid background for the broader duties to manage the overall development of projects. Large, fast and complex interior improvements on the Intel campus developed his skills at scheduling and managing the supply chain. His work on downtown high rise tenant improvements honed his skills for premium finishes and communicating expectations of institutional landlords.
Greg joined the company in summer of 2022, coming from Lease Crutcher Lewis Construction. Previously he held positions at Turner Construction in Portland with roles in construction management and business development. His initial job out of engineering school was building an ice bridge in Alaska for Kiewit Construction. He obtained a civil engineering degree at University of Colorado-Boulder and a masters in business administration at Auburn University.
He is active with skiing, golfing and hiking. Greg is married to Sarah living in Portland. They and their energetic dog Fitz enjoy spending time in Central Oregon. Greg is active in ULI and NAIOP.
CREDENTIALS
Combined experience of over 60 years in commercial real estate and construction / Over six million square feet of new real estate development plus renovations and remodels / Well over 50 different properties built for owners, tenants and investors / Long term partnership of Mike Wells and Dirk Otis who work collaboratively together / Unique experiences and skill set span the complete life cycle of a commercial real estate property / Both Mike and Dirk have significant tenure
and experience with national and institutional commercial real estate companies / Key areas of responsibility include brokerage, acquisition, financing, development, construction, disposition and property management
VALUE PROPOSITION
Due diligence, strategy and execution in order to minimize risk / Formulate scope, schedule and budget in order to deliver within plan / Expertise and efficiency provide accelerated results / Service averts opportunity loss in terms of project cost, employee downtime and owner focus / Experience provides vision, drives quality and ensures long term value for the property