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Archive for April, 2009

A new library in downtown Vancouver is set to begin construction in August with an opening in 2011. The existing buildings being cleared are part of a Subaru dealership no longer operating out of the C Street location. Directly across the road from the Bank of America Financial Center and adjacent to the cinemas, the new [...]

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  In line with an interesting trend among major technology companies in the U.S., Cisco has added an onsite health care center to its San Jose headquarters campus. The facility is operated by a third party medical group offering primary care, pediatric, nutritional and other health-related services to the 17,000 Cisco employees on campus. The new building, [...]

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 Our First Quarter Market Report is out and the numbers are showing signs of stress under the economy. Tenants have greater leverage now as landlords are anxious to lease space and maintain rent rolls. The reality behind this is that landlords are not giving away the house in order to water the lawn. In other words, [...]

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With all of the development that has occurred in the Airport area, it’s no surprise that the General Services Administration (GSA) has expressed interest in moving some operations out that way as well.  Currently, the Portland Development Commission (PDC) is in a leaseholder sales agreement with Trammel Crow for five acres at Cascade Station. Trammell Crow [...]

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Despite speculation about Boeing’s future size in Seattle, a little known subsidiary of the aircraft giant is flying high, so to speak. Insitu designs and manufactures unmanned aerial vehicles for reconnaissance/surveillance missions.  Founded and headquartered in Bingen, WA, Insitu leased offices in the Columbia Tech Center park of Vancouver back in early 2008 (about 8,300 SF [...]

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THE NINES HOTEL TOPS LIST Apparently Starwood Hotels legal mayhem (they are in the midst of a lawsuit against Hilton Hotels) hasn’t deterred the reviews of their newest luxury property- The Nines Hotel.  The Nines, which happens to be in Portland, Oregon, made Conde’ Naste’s “Hot Hotels” List this year.  The Nines was featured in the magazine and [...]

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After numerous indicators told us the second largest mall property holder was looking at bankruptcy, the trigger was finally pulled today as General Growth Properties (GGP) filed for Chapter 11 banktruptcy protection. This is the largest real estate bankruptcy in U.S. history, with around $27 billion in debt on the books. The company intends to [...]

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BACK TO THE DRAWING TABLE FOR PARK AVENUE WEST The big news late last week was the announcement of the halt on construction for the Park Avenue West Office Tower located across from the downtown Nordstroms. While this news was not entirely unexpected in the commercial real estate community (we have been concerned about financing [...]

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News stories broke today confirming that The Columbian Building is facing foreclosure by Bank of America if the ownership, Columbian Publisher Scott Campbell and his family, could not service debt of up to $15 million. The ownership is attempting to renegoiate their debt terms. The Columbian occupied the new building for one year and then [...]

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THE PEARL DISTRICT The latest round of economic losers (not to be interpreted as groups not worthy but rather unfortunate victims) in the Portland area includes Brookfield Renewable Power. Brookfield subleased a space in the historic DeSoto Building (720 NW Davis) on the edge of the Pearl District back in October of 2008.  Their very [...]

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