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Waiting for the Ball to Drop April 21, 2021 Commercial real estate experts say a leasing boom is around the corner. There is a quote regularly misattributed to evolutionary biologist Charles Darwin that goes: “It is not the strongest of the species that survives, nor the most intelligent, but the one that can best adapt to changes in its environment.” The quote was actually spoken by Leon C. Megginson, a management and marketing professor at Louisiana State University. But it holds just as true for business as it does in the jungle. For commercial real estate agencies, COVID-19 has meant a year of seismic shifts, and paying close attention to industries as they adapted, or failed to adapt, to the new economy. ....
Hawthorne’s empty storefronts are emblematic of challenges facing Portland shopping districts Updated Jan 27, 2021; When Ray Ameripour opened Classic Collection Hats on Southeast Hawthorne Boulevard over a decade ago, his neighbors stopped by with well wishes and baked goods. It made him feel an immediate connection to the neighborhood, one that would only grow over time. He loved how vibrant Hawthorne felt as Portlanders and tourists alike flocked to the area, drawn to the eclectic shops and local restaurants that have long made the district one of the city’s premier shopping destinations. But Ameripour doesn’t know if his shop will survive the coronavirus pandemic. ....
Portland suffered unprecedented increase in vacant office space last year Updated Jan 19, 2021; Facebook Share The amount of unoccupied office space in Portland increased at an unprecedented rate in 2020 as companies vacated their buildings and new spaces sat empty. Empty space was especially pronounced downtown, as the pandemic, protests and sporadic vandalism and violence reduced the appeal of the city’s core. Forecasters expect a modest rebound in 2021, provided vaccines prompt a return to office work later in the year. For 2020, Portland’s office market suffered its worst year in at least two decades in terms of net absorption, which measures the net change in occupied office space over a specific period of time. ....
Request to build Dollar General in Monson withdrawn Updated Dec 16, 2020; MONSON A tornado-ravaged property on Main Street will remain unchanged for now. A request for two special permits to build a 9,100 square-foot retail building at 96 Main St. has been withdrawn “without prejudice” and the developer has no other special permit applications before the town, according to Town Planner Daniel Laroche. While the Connecticut-based developer never identified a tenant, Angela Petkovic, a spokesperson for Dollar General Corp., had confirmed the discount retain chain was eyeing the Monson site. Development of the site has generated some public outcry in the community, including a public protest and petition via Change.org urging the Planning Board to deny the developer’s application after the June 16 hearing. The petition garnered more than 1,400 signatures. ....