The Oregonian featured an article today about Eco Flats, a new mixed-use project breaking ground in February on North Williams! We are pleased to have represented the developers, 3935 N. Williams, LLC, in this transaction, and we're excited to watch development progress on this formerly dilapidated site!
As Willamette Week reported last August, Chef Greg Perrault left D.O.C. for greener pastures. He has just landed a location for his own restaurant venture with friend & business partner Matthew Peterson. They have inked a lease at 2215 E. Burnside (pictured above), next door to Heart Coffee & Roasting. They plan to open in June!
The historic Buddha building at 312 NW 12th Avenue has begun to experience subtle changes over the last twelve months as the building’s ownership works to breathe new life into one of the original buildings in the Pearl District (completed in 1919 the Buddha Building was home to the Buddhist church that was founded in 1903). Speaking of breathing new life, the newest tenant to the building, Elite Kettle Bell Gym, will have you gasping for as air as owner and trainer Michael Skoggs takes you through the paces of his intensive Kettlebell Workouts. If this doesn’t get the building's heart rate up nothing will!
Olympic Provisions has now been open for close to a month in the beautifully restored Olympic Mills Commerce Center. Not only is the restaurant food close to perfect but this "American Charcuterie" has begun selling their handmade chorizos and smoked meats from the deli case. Do yourself a favor and go for lunch or dinner before the word is out...too late!
The Agency Ultra Sport Lounge at SW 19th & Morrison across the street from Civic Stadium has finally had their doors closed by the landlord after The Agency became too past due with their lease payments. Unfortunately, the "ultra" cool sports lounge could not hang-on for the restoration of the stadium and the eventual birth of Major League Soccer in Portland in spring 2011. It is our guess that the 7,500+ square foot space will quickly find another sports/restaurant operator that will be lucky enough to accommodate the anticipated crowds (20,000 seats) and approximately 250 events that the new professional franchise and remodeled stadium will bring to the neighborhood. We wonder who gets all those flat screens?!
Urban Works has fully leased the ground floor of the
Llewellyn Condominiums in the heart of West Moreland to Creative
Minds Learning Centers. This
4,239 SF space at 6109 SE Milwaukie Ave represents the 4th campus
for the childcare center/preschool, and serves families with children from
infancy to Pre-K. Creative Minds teamed up with one of the project developers,
Mark Gossage of Macleod Construction, to create an eco-certified space complete
with commercial kitchen, hand painted murals, a gross motor area and a
community room and library for enrolled families.
Business owners Jacqueline
and Ken Mckinster founded Creative Minds after they had their son KJ and
discovered how challenging it was to find quality childcare as a working
family. KJ, who was hoping someday to race cars professionally, died suddenly
while racing in April of 2008. Ken and Jacqueline have dedicated Creative Minds
to his memory, and are thrilled to be bringing their extraordinary programs,
inspired by KJ, to this vibrant neighborhood. “This project has been a team effort from beginning
to end,” says Jacqueline, “and it’s exciting to see our school full of life and
buzzing with such wonderful children and their families. We’re honored to
dedicate our schools to KJ’s memory.”
Portland’s entrepreneurs are breathing new life into the Rose City neighborhood along NE
Sandy Blvd. Cabezon Restaurant and Fish Market just opened for business in the
former Violet’s Cafe space at NE 52nd and Sandy and Case Study
Coffee is going through permitting as we speak for their new coffee shop near Du’s
Grill at NE 53rd and Sandy. The time is ripe for more goods and services to cater to this burgeoning market.
Bay 13 has finally closed their doors. According to the Bay 13 web site, "We will be reopening as a new concept in spring 2010." The Moana Group (restaurants & hotels) has the experience and the financial strength to accomplish something worth waiting for in 2010. The BIG 7,000 sq.ft. plus space is far larger than most restaurants in today's marketplace and we would not be surprised if the premises is partitioned down to smaller storefronts and/or a new concept partner is brought in to jump start this restaurant. Good luck!
As reported in the Daily Journal Of Commerce, there is a faint glimmer in Portland's central neighborhoods. Another tough year is expected for commercial real estate by most brokers but retail real estate in urban neighborhoods is predicted to fare much better than those suburban developments that are dependent upon national retailers and their corporate credit ratings. The central city neighborhoods are also fortunate not to be over built with excess space and high vacancy. Most real estate professionals agree that the bottom of the market was reached last summer and worst is behind us. There are good deals to be made in 2010. Hang in there Portland...