Portland building value collapse becomes selling point

By Taxpayers Association of Oregon Foundation,

One of Portland’s well-known office buildings is up for sale. It only has 33% vacancy rate. It defaulted on a 47 million mortgage a few years ago.

Now it is being sold as a great find because the whole Portland market is under-values.

It is being advertised as saying, “Among all the Western U.S. CBD office markets, Portland has perhaps seen the greatest divergence from peak market values, presenting a unique opportunity to acquire best-in-class buildings at a significant discount to their prior values.”

This says it all. Top notch office buildings for sale at extremely low prices — how true!

This becomes a public recognition of Portland’s failures.  This is also a crossroads moment for Portland, as investors consider taking risks to invest in these buildings they need the support of Portland to rebound and be successful.   That can happen by lowering taxes, regulations and crime that caused the problem int he first place.