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|Articles - May 2012|
|Monday, April 23, 2012|
Page 2 of 3
Yet while luxury properties once again have their pick of retailers, Class B and C establishments, whose locations and existing tenant mixes may be less than ideal, are still struggling to fill the empties.
Even so, many people in the commercial real estate industry are wary of nontraditional tenants. Because patrons of places like fitness centers and doctors’ offices tend to come and go (and take up parking spaces in the meantime) without stopping to shop, anchor store contracts often prohibit owners from leasing to non-retail tenants.
“It’s a slippery slope,” says Suzanne Mulvee, a national retail expert with the commercial real estate information company CoStar Group. “Once you bring in a lesser-quality tenant, the overall quality of the center can continue to deteriorate.”
CenterCal Properties CEO Fred Bruning, who oversees Bridgeport Village in Tigard, does his best to avoid “the progression to mediocrity.” When the Borders at Bridgeport closed last fall, the center resisted offers from a gym, a sporting goods store and several discount retailers and mass merchants.
“We really wanted to hold out for something that would uphold the integrity of the leasing at the center,” Bruning says. The center has lined up a tenant that complements the space well, he says, but it has not yet made the deal public.
Other retail areas can’t afford to be as choosy, though. When the Linens ’n Things near Clackamas Town Center went dark, a Salvation Army moved into the 40,000-square-foot vacancy.
“We had to discount the rent by 10% or 15% from what we were getting before, but it was certainly better than an empty box,” says Mark New, president of New & Neville Real Estate Services. “As long as you’re not trying to put those guys next to your high-end luxury goods, you can create a symbiotic relationship.”
Friday, May 15, 2015
BY KIM MOORE | RESEARCH EDITOR
The Portland Bureau of Transportation is seeking input from businesses on a $5.5 million initiative to create a network of biking, transit and pedestrian trails within Portland’s central city.
Wednesday, May 27, 2015
BY LINDA BAKER | EDITOR
More than 250 people turned out today for Oregon Business magazine’s seventh annual celebration of the 100 Best Green Companies to Work For in Oregon.
Wednesday, June 10, 2015
Jeff Lang and his wife Rae used to dole out campaign checks like candy. “We were like alcoholics,” Lang says. ”We couldn’t just give a little.”
Friday, May 22, 2015
BY LINDA BAKER | PHOTOS BY JASON E. KAPLAN
As the recession recedes and tourism grows, Central Oregon resorts redefine themselves for a new generation.
Wednesday, May 27, 2015
PHOTOS BY JASON E. KAPLAN
Oregon Business celebrated the 100 Best Green Workplaces with an awards luncheon yesterday at the Nines Hotel in downtown Portland.
Tuesday, June 09, 2015
The technology at the center of Oregon’s road usage fee reform.
Friday, May 22, 2015
BY KIM MOORE
As momentum grows at the state level to introduce far-reaching environmental regulations, such as carbon pricing and the Clean Fuels Program, Oregon employers continue to go the extra mile to create green workplaces for their employees.
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