Wasn’t the move from the suburbs in 2009 a response to the economy, i.e., seeking less expensive space. And clearly part of the downtown “expansion” was because the GSA needed space, not because of any need to expand or to seek lower leasing costs – but because of the environmental upgrade that temporarily dislocated many government agencies. There will be empty spaces to be filled when the upgrade is finished.

Vestas move from downtown to Pearl District was space trading too, most likely the city and state buying their continued stay in Portland. Vestas is using only a relatively small part of the available space, thus there is still space to fill. The Nike lease meant a continued stay in the corridor (and more jobs).

Not too long ago McCormick & Schmick’s moved from downtown to Pearl. Microsoft is moving the employees of a recently purchased firm from SW Portland to Pearl. And the firm Puppet Labs is moving in the near future from its Old Town digs to Pearl. There are still holes where these firms have left or will be leaving.

And there is the “expected” demand because of lease expiration. But it isn’t clear from the article whether firms need to expand or that if they chose to move there would be little downtown space to accommodate them. What may happen is pure speculation.

The hole in the ground downtown still remains for a host of reasons but one is that the developer has been unable to secure tenants. And the Mr. Menashe seems to contradict himself. On one hand he notes a move back to the suburbs, and yet he touts downtown demand for his purchase of the old police building. A 4 story building that has only two floors occupied counters the notion that the demand is high.

It seems like the demand is artificial and certainly not based upon private business expansion or relocation to downtown Portland. If there is a trend it is the exodus from downtown to Pearl.

I really hope that this trend is being heard by the financiers of the Park West building! ()

This isn’t a matter of building it or not; the work has already begun and there has been a gaping hole in the middle of downtown for over a year. Clearly there is steady demand and when the building is built, it will be occupied. Why are the builders idle? Someone in City Hall needs to go have a conversation and get that project started again. It will be put to good use.