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Developer buys 1.85-acre Orchards parcel for $1 million

A 1.85-acre plot of land at 4905 N.E. 122nd Ave. has been sold to MAJ Development Corp. for about $1 million, according to a Friday news release from the broker, Norris & Stevens. ....

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Pamplin Media Group - Downtown Portland office vacancy rate reaches 15%

Downtown Portland office vacancy rate reaches 15%
Pandemic, protests among several factors dragging down Portland s office space market.
From the COVID-19 pandemic forcing people to work at home to property destruction during protests downtown, office space in the Portland metro area is steadily becoming vacant.
The market faces a shaky outlook for the remainder of this year, even as people receive their vaccinations and employers consider bringing their staff back into the office.
State economist Josh Lehner pointed to the combination of business closures, less foot traffic and lower demand for office space as key factors in declining construction activity. Lehner said leading demand for office, retail, and leisure and hospitality space would need to rebound considerably for vacancy rates to decline and rents to increase. ....

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Pamplin Media Group - In downtown Portland, they're the only one at the office

In downtown Portland, they re the only one at the office
White collar workplaces sit empty, except for pockets of resistance, across the Portland metro area
The office used to be a compulsory home-away-from-home. You had to go in, you had to commute, you had to look busy to get your check. It was a place to work, network, brainstorm, gossip, banter and mingle with your unchosen family.
COVID-19 put paid to that.
Work from home (WFH) became a way of life for anyone who doesn t work with their hands or directly with people, and many folks haven t seen their cubicle since March. ....

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