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March 06, 2015

Brandon Sawyer: The path of lease assistance

Portland Business Journal

Brandon Sawyer

More than 70 football fields - that's the total square feet of the metro-area's top 50 commercial leases signed in 2014. And more than 600 licensed agents plus over 1,100 employees embody the teams that scramble to make plays to buy, sell and lease the region's office buildings, retail big-boxes, industrial plants and other commercial properties.

We asked firms to name their favorite properties in the area. Their answers were literally all over the map from Olympic Mills Commerce Center - a 1920s-era cereal mill and grain elevator adaptively renovated into offices - to downtown's Standard Insurance Center, the Timberland Town Center in suburban Cedar Mill, and the Jenga-like mixed-use bSIDE6 on East Burnside. Kevin Joshi, senior vice president at Kidder Mathews writes, "It would be a tie between Park Avenue West and Pearl West. These buildings are already receiving accolades for design and function. They will also be the first two deliveries of new office buildings in downtown Portland since the Great Recession."

We also asked what the hottest business districts are for near-term real estate activity. Again the answers were widespread from Vancouver to Hillsdale in Southwest to inner Southeast, Beaverton and Lloyd Center. But many favored the heart of the city. Judi Howard, Cushman & Wakefield's operations director, answered: "The entire central business district with special emphasis in the Pearl District/Northwest and Central Eastside because institutional investors are looking to place capital in urban areas for new development or repurposing."

For the full story, go to Portland Business Journal.

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