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Portland, Oregon Commercial Real Estate Current Market
Just like some of the commercial real estate centers around the globe, the Portland, Oregon commercial real estate industry also hit the mark as one of the best centers for commercial real estate. However, certain facts noted that the Portland, Oregon commercial real estate industry today is not that successful as the past few years. Some reasons behind the Portland, Oregon commercial real estate industry is not yet divulged to the highest level but certain resources noted the nature of the Portland, Oregon commercial real estate current market.
So for the information of the masses, one of the resources that tackled the issue about the Portland, Oregon commercial real estate market is the American City Business Journals Inc. This certain resource once noted that the Portland, Oregon commercial real estate current market is at the worst stage. In fact, in their report made last October 22, 2002, the Moody’s Investors Service has named Portland, Oregon commercial real estate as the third worst commercial real estate market in the United States aside from Denver and Austin, Texas.
Furthermore, the Moody’s Investors Service even addressed the Portland, Oregon commercial real estate market as “Portland, Oregon commercial real estate anemic”. Aside from the Portland, Oregon commercial real estate market that was sited in Moody’s Investors Service’ “Red-Yellow-Green” report, the commercial real estate market of Stamford, Connecticut, and Baltimore are also mentioned as being part of the those areas with weak commercial real estate markets.
In line with the current situation of the Portland, Oregon commercial real estate market, the Moody’s Investors Service noted that the Portland, Oregon commercial real estate market, being one of the weak markets is under the yellow warning category of their “Red-Yellow-Green” report. This situation of the Portland, Oregon commercial real estate market is presented that with the Moody’s quarterly Red-Yellow-Green report that describes market in traffic light colors, in which the red stands for 0-33 under stress; yellow with 34-66 warrants monitoring; and green with 67-100, not under stress, the Portland, Oregon commercial real estate overall score is 36 that puts the Portland, Oregon commercial real estate market in the yellow warning category.
Finally, the Portland, Oregon commercial real estate market, accordingly, received red lights in multifamily housing and office buildings. Also the Portland, Oregon commercial real estate market received yellow light for industrial real estate, and lastly, the Portland, Oregon commercial real estate market received green light for retail development. The report of the Moody’s about the Portland, Oregon commercial real estate market also noted that the national vacancy rate for Portland, Oregon commercial real estate is higher year over year, with 11.3 percent of national vacancy rate for Portland, Oregon commercial real estate in second quarter 2001 compared to the 15.7 percent of the Portland, Oregon commercial real estate vacancy rate in second quarter in 2002. The report of the Moody’s on the Portland, Oregon commercial real estate current market considered that the vacancies of the Portland, Oregon commercial real estate market increased quarter to quarter, however, the vacancy rate for Portland, Oregon commercial real estate market in this manner has just a shallower amount of 15.4 percent in first quarter in 2002 to 15.7 percent in the second quarter in 2002.
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