To kick off February 2009, I read an industry article (http://tinyurl.com/deq285) on the current conditions of commercial real estate investment and construction spending on a national scale. We took an astounding nose dive in the Fourth Quarter of 2008 , down by 19.1% compared to a decrease of just 1.7% one quarter prior. Clearly, the Fourth Quarter of 2008 hit hard and it appears things are continuing to slide. As always, we caution firms considering a commercial purchase as we have not hit the bottom just yet.
Portland still has some major office building projects under construction, most notably First and Main (at the westside head of the Hawthorne Bridge) and Park Avenue West (that big hole across from Nordstroms). But both of these projects don’t deliver before 2010.
TechDex (apps|provider|hardware|var)
GigaPix Systems – Aronson Campbell Bldg | 2200 NW Savier | 8,000 SF
EZ Wireless – 2860 NW 29th Ave. | 4,615 SF
A-Cti Answerconnect - One Warm Springs | 8050 SW Warm Springs Dr. | 7,412 SF
Comcast - Tektronix Bldg 48 | 14243 SW Terman Rd. | 118,612 SF
Leupold & Stevens – Fry Warehouse | 5805 SW 107th | 20,000 SF
Office Ally – 16703 SE McGillivray Blvd. | 10,933 SF
CIBER Inc – 11805 NE 99th St. | 7,393 SF
Expect Payment Solutions – 11805 NE 99th St. | 2,088 SF
MediaDex (traditional|digital|research)
SCRAP Inc. – 2915 NE Martin Luther King Jr Blvd. | 7,395 SF
Innovative Resource Group – 7668 SW Mohawk | 6,056 SF
The Guidance Group – 4 Lincoln | 10250 SW Greenburg Rd. | 2,531 SF
Rocketshop – 328 NE Fourth Ave. | Camas | 1,412 SF
PIECE OF THE PDX PIE! – February 2009
Ontier, Inc. – This firm is definitely one to watch. They continue to build an impressive management team of industry veterans, draw strong attention from investors and are on the fast-track to transition from beta sometime later this year. For a description of their flagship application – Pixetell - here’s a quick teaser from their website:
“Ever try to describe a flow-chart in email? Or give specific feedback on a graphical design with nothing but a screenshot and email? Or how about explaining how to access data in a complex spreadsheet? Instead of relying on 40 year-old technology (yes email is almost 40), Pixetell lets you communicate quickly and naturally with schedule-independent communications that allow you to get your point across successfully the first time.”
SUNNY SALE IN ”THE OTHER PORTLAND”?
