Portland Pearl District Office Building Sells for $5.7 Million
The Gregory’s new owners can execute a ‘lease-up to stabilization strategy’ with the building sitting at 45% vacancy.
Real Estate
Portland Office Vacancies Reach Historic Highs
Kidder Matthew senior VP says the commercial real estate market is adapting to reduced demand
Signs Point to More Activity in Portland’s Commercial Real Estate Market, CBRE Researcher Says
A quarterly report by CBRE showed Portland’s commercial real estate vacancy rate rising, but the company’s field research manager is still bullish on the sector’s future.
HUD Announces $7.5 Million Award to Warm Springs Housing Authority
The money will be allocated to develop 10 new housing units, part of a wider Northwest Tribal investment by the Department of Housing and Urban Development.
Oregon Apartment Rents Among the Fastest Declining in Nation, Rent.com Report Finds
The state averaged the third largest yearly drop in rent prices in the country, with prices in the Portland metro area leading the fall.
Medical Office Trends Report Finds Sales Momentum Slowed Despite Strong Demand
The CBRE report suggests difficulty changing medical offices and inability to adapt to remote work are behind the lag.
Arts Scene Central to Heathman Hotel’s GM’s Game Plan
Laura Maldonado says making the historic Portland hotel a “portal to the arts” means engaging with local artists and vendors, and turning the Heathman into a hip hangout.
Kotek Signs Billion-Dollar Housing Package into Law
Bills fund a large-scale expansion of the HCSD, as well as housing assistance programs and new rent controls.
Snell & Wilmer Moves to Bigger Downtown Portland Office
The move continues the trend of law firms setting up shop in Portland, but bucks the trend of office vacancies in Portland’s downtown.
Hospitality Sector Shows Encouraging Growth as Employers Struggle to Find Workers
Post-pandemic tourism has returned in force in many parts of the state, with tourism in Portland lagging behind, according to data from ORLA and Travel Oregon.