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|Articles - February 2011|
|Thursday, January 27, 2011|
Low vacancy rates in the Portland retail, office and industrial real estate sectors have made the city a good choice for investors looking to put money back into the market.
In a recent forecast of commercial real estate, Portland placed in the top 10 U.S. cities for office, retail and industrial real estate investment opportunities. The report, released by Grubb & Ellis, a Portland commercial real estate firm, found Portland to have an overall vacancy rate of around 10%. This placed Portland third on the report’s list of 47 cities, just below New York and Washington, D.C., for investment opportunities.
Portland fared best in retail, with a vacancy rate of 6.1%. New York ranked first in that category at 2.0% and D.C. was second at 5.5%. The average vacancy rate for retail space last year was 10.9% nationally. Industrial vacancy rates in Portland floated around 8%, with New York and D.C.’s rates at 5.4% and 12.8%.
Thirteen variables ranging from forecasted population growth to median income and proposed number of jobs over the next five years were analyzed by researchers for the report.
While Portland may face high unemployment, it’s still considered a safe market for investors because the market was not overdeveloped when the economy went sour. “It’s more of a reflection about supply than demand,” says David Hill, senior investment specialist at Grubb & Ellis. “We never got overbuilt; the downtown in particular has shown more resilience.”
This is particularly true for the retail sector and is one of the strongest draws for companies wanting to enter the Portland market. With limited space, competition for national retailers is high. It took a deal two years in the making to bring retail clothing giant H&M to downtown Portland, which opened late last year. The space was formerly held by Saks Fifth Avenue.
“National retailers who want to get in Portland haven't been able to,” says Hill. “It’s very difficult to find a space in the area to build new retail [space]. You can’t just keep building new buildings; the economics are not always there. The market here doesn’t move quite as fast.”
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Tuesday, July 01, 2014
BY HANNAH WALLACE | OB BLOGGER
Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.
Thursday, June 19, 2014
BY MONICA ENAND | GUEST CONTRIBUTOR
Nine tips for building habits among employees to respond when needed.
Thursday, June 12, 2014
BY ANDREA DURBIN | OB GUEST BLOGGER
Last week, the Obama administration took an important and welcomed step in the effort to protect the health and well-being of all Oregonians by limiting carbon pollution from existing power plants.
Thursday, July 24, 2014
BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
Thursday, June 05, 2014
BY HANNAH WALLACE | OB BLOGGER
What does it take to launch and run one of these mobile food businesses?
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
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