Monday, April 2, 2012

Signs of life for commercial real estate

From the Oregonian:

Multnomah County Chairman Jeff Cogen announced a tentative deal with Melvin Mark Development Co. Friday to launch a Pike Place-style market at the west end of the Morrison Bridge.

Envisioned as an "iconic gateway" to downtown, the market would host 110 local vendors of food and food-related products and sit next to a new office tower on Southwest First Avenue. Together, the projects are expected to bring $10.4 million to the county's fragile general fund, transforming an empty county-owned lot into a bustling tourist destination that would complement nearby Portland Saturday Market.

This along with the target deal show things are starting to move again. We are very close to the bottom of the market if not past it.


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