|| Print ||
|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, March 27, 2015
BY LINDA BAKER
My daughter turned 18 last week, and for her birthday I got her a Car2Go membership. Not to label myself a disruptor, but it felt like a groundbreaking moment. The two of us, mother and child, were participating in a new teen rite of passage: Instead of handing over the car keys, I handed over a car-sharing card — with the caveat that she not use the gift as her own personal car service.
Sunday, February 15, 2015
BY LINDA BAKER | OB EDITOR
As the investigation against the governor moves forward, those of us in the news business should reflect on our own potential for subverting the democratic process.
Tuesday, February 24, 2015
BY LINDA BAKER | OB EDITOR
At Oregon State University, a 21st century version of the bad dream — nuclear terrorism — is alive and well. This winter, the Department of Nuclear Physics and Radiation Health Physics created a new interdisciplinary graduate emphasis in nuclear forensics, a Sherlock Holmes-sounding program that aims to identify how and where confiscated nuclear and radiological materials were created.
Tuesday, February 17, 2015
BY TAMSEN LEACHMAN | OB GUEST CONTRIBUTOR
It is important to understand the EEOC’s priorities, and ensure that your leadership understands the shifting expectations of regulators and the heightened standards to which you (and they) may be held.
Friday, February 27, 2015
VIDEO: 2015 100 Best Companies to work for in Oregon
Wednesday, February 18, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
NBA commissioner: "I would love to end up having an All-Star Game in Portland. It's really just a function of ensuring that we can fit in town."
Friday, March 27, 2015
BY JACOB PALMER
Five years in the making, the Portland Mercado — the city’s first Latino public market — will celebrate its grand opening April 11. A $3.5 million public-private partnership spearheaded by Hacienda CDC, the market will house 15 to 20 businesses in the food, retail and service sectors. It has some big-name funders, including the Paul G. Allen Family Foundation and JPMorgan Chase. The project goals are equally ambitious: to improve cross-cultural understanding, alleviate poverty and spur community economic development.
|Get on the bus!|
|Bike Chic: 7 stylish options for cyclists|
|Emperor of the Sea|
|Downtime with the executive director of Greater Portland Inc.|
|Swiss bankers guilty of tax fraud avoid jail|
|US grants Texan rhino hunter permit to bring back trophy|
|Norwegian Air tweaks cockpit rules after Germanwings crash|
|Federal Consumer Agency addresses payday loans|
|Slave-caught seafood sold in America|
|Heinz, Kraft merge|
|West Coast lawmakers want earthquake warning funding|