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Vestas might ditch new digs

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High Five
Wednesday, September 09, 2009

The poor economy and slow orders are among the factors forcing wind-turbine maker Vestas to consider moving into an existing structure rather than constructing a new building. Either way, developers and others have a vested interest in the company's real-estate moves.

Martha Wyrsch, who began leading Vestas U.S. and Canadian operations June 15, said during an interview that the company hadn't entirely ruled out new construction. Either way, she said, Vestas is not about to leave Portland...

Developers, brokers and city officials are watching Vestas closely as one of the city's biggest potential real estate clients, a fast-growing firm whose business could spell the difference between a hole in the ground and a completed Class A tower. Even if Vestas abandons plans for new construction, its decision on consolidating in one building or existing project would have enormous influence in a slow commercial real estate market.

Read the full story at OregonLive.com.

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