Tuesday, February 14, 2012
Falling vacancy and job gains are pushing Portland into one of the top retail real estate markets nationwide, according to commercial real estate firm Marcus & Millichap.
In an index that covers 44 metro areas across the country, Portland rose from No. 13 in 2011 to No. 6 in 2012. The firm predicts rent hikes in high-traffic urban districts as vacancy declines.
The firm says Portland also showed strength in retail sales and the growth in high-tech manufacturing jobs, good news for retail tenants -- and their landlords. Intel's new factory in Hillsboro contributed to the strong showing, though it's not expected to open until 2013.
Read more at OregonLive.com.
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