source: DJC Oregon

One of Portland’s successful startups, Elemental Technologies, has found a new home in a downtown location. The software firm has leased 4,500 square feet  (just a little over half a floor) on the 4th floor of the 620 Building (620 SW Fifth Avenue). The building is 12 stories tall with 103,000 square feet of space. It is 96% occupied and last sold in 2006 for a little over $11 million.

Built in 1910, the Class C Historic building recently underwent renovations to the lobby and common areas. Elemental, previously located in Harrison Square (1800 SW First Avenue,)  will now reside in the core of downtown alongside numerous other software firms who have made the move into Central Business District over the last two years.

For the past two years, December has been a very busy month with many companies trying to secure office leases before year end due to tax and other benefits. However, this year we anticipate a slower than usual December as many companies are in a holding pattern. Several large firms are simply renewing for a one year period with the hopes of a better environment next December, 2010. There are a few brightspots however, including GarageGames move into the Portland market up from Eugene.

TechDex (apps|hardware|provider|var)

Central Business District

GarageGames.com - 618 Building | 618 NW Glisan | 2,475 SF

Axiom Group – Willamette Place | 6420 SW Macadam | 3,300 SF

Westside

Mania Technologie

- 5289 NE Elam Young Parkway | 5,289 SF

Stanley Convergent – Pacific Corp Ctr | 15495 SW Sequoia Pkwy | 6,145 SF

Vancouver

Wilder Technologies – Creekside Biz Park | 6101-A East 18th | 3,200 SF

SustainDex (Environmental|Sustainable/Clean/Bio Tech)

Vancouver

Christ Water Technology – Quad 205 | 4018 NE 112th, D-2 | 1,036 SF renew 

In Other News….

Finally announced publicly today (the folks in commercial real estate have been tracking this big tenant for a while), Vestas Wind Systems A/S intends to occupy a 500,000 SF headquarters building in Portland, consolidating numerous operations throughout the area into one location.

Congratulations to local start up EarthClass Mail for successfully opening a retail location in Los Angeles, offering a Santa Monica mailing address.