Retail vacancies rise in Portland

| Print |  Email
Thursday, May 01, 2008

{safe_alt_text}

PORTLAND Downtown construction continues to push up retail vacancy rates as prospective retailers wait for completion of the disruptive activity. Vacancy rates downtown rose to 7.3% in the first quarter of this year, up from 5.1% the same time last year, according to Portland-based real estate firm Norris, Beggs & Simpson. A sluggish economy and tight credit for new construction projects also are to blame, says J.J. Unger, a broker with the company. “We have definitely seen the activity slow down,” says Unger. “People are sitting on the sidelines.”

One example is the 15,000-square-foot space that had housed a Kitchen Kaboodle. It’s been vacant since last summer, stymied by construction of the new transit mall on SW Sixth Avenue, which began in January 2007. The vacancy rate in fourth quarter 2006 was 4.4%, according to Norris, Beggs., and has since steadily climbed. “Everybody is waiting for it to be finished,” says Unger. The project is scheduled for completion in spring 2009. 



Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Will Medford Ever Be Cool?

February 2015
Friday, January 23, 2015
BY DAN COOK | PHOTOS BY JASON E. KAPLAN

A real-estate developer and a Lithia Motors executive aim to revamp the city's forlorn downtown.


Read more...

Powerbook Perspective

January-Powerbook 2015
Friday, December 12, 2014
BY LINDA BAKER

A conversation with Oregon state economist Josh Lehner.


Read more...

Behind the curtain: What students should know about accreditation and rankings

Contributed Blogs
Thursday, December 04, 2014
120414-edurating-thumbBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

How important are institutional and/or program evaluations provided by third parties in selecting a college or university program?


Read more...

Corner Office: Pam Edstrom

January-Powerbook 2015
Saturday, December 13, 2014

Seven tidbits of information from an agency partner and co-founder of Waggener Edstrom in Lake Oswego.


Read more...

See How They Run

January-Powerbook 2015
Friday, December 12, 2014
BY LINDA BAKER

Studying ground-running birds, a group that ranks among nature's speediest and most agile bipedal runners, to build a faster robot.


Read more...

Corner Office: Steve Tatone

January-Powerbook 2015
Saturday, December 13, 2014

Seven tidbits about the president and CEO of AKT Group.


Read more...

Streetfight

News
Sunday, December 07, 2014
BY LINDA BAKER

On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS