Microsoft leases 12,000 square feet in the Pearl


Microsoft finalized a lease for 12,383 square feet of the MachineWorks office Building in Portland’s trendy Pearl District.

Share this article!

Microsoft finalized a lease for 12,383 square feet of the MachineWorks office Building in Portland’s trendy Pearl District.

The new tenants and new construction work illustrates what developer Mark Madden calls “the slow thaw” of the industry following a frighteningly deep recession. No one is predicting a quick return to the glory years of the condo boom when Pearl District construction cranes seemed to outnumber the espresso shops. But increasingly companies are confident enough about the future to invest and grow.

The Microsoft lease is particularly sweet news for developer Al Solheim. His MachineWorks building was completed in February 2009, near the low point of the Great Recession. In spite of the timing, Solheim has managed to lease up the building 100 percent in 18 months, landing a series of marquee clients. “That’s truly a remarkable achievement and a very hopeful sign for downtown Portland,” Solheim said.

Read more at OregonLive.com.

{biztweet}microsoft portland{/biztweet}




Latest from Oregon Business Team