PORTLAND -- It wasn't so long ago, a drive by any block in downtown and the most visible signage was "For Lease" signs.
Those signs are still around, just not as many.
Space is now being snapped up for lots of new companies to the area. Our quality of life here is one big reason, plus favorable rental rates.
As the economy started to rebound, and companies began to hire again, they needed room to grow.
Many businesses from the Bay Area are looking at space here. And they're finding it easier to recruit workers who want to settle in Portland more than San Francisco.
"They have more people interested in relocating here than they have a way to accommodate them," said John M. Petersen, President of Melvin Mark Capital Group.
New commercial construction hasn't picked up yet, but apartment building construction has. Folks still gun-shy from the housing bust are flocking to rent. It's creating more demand.
"It's much more back to normal," said Petersen. "Good assets get very attractive financing, even a little harder assists get good financing".
Filling space is also good for the construction trades. One example is the Ladd Carriage House. After three years of sitting empty, work in underway to build out what will be a new restaurant.
And work continues to transform the Galleria into a City Target.
But, Gerard Mildner, director of the Center for Real Estate at Portland State University, believes the Federal redevelopment of the Edith Green building could be a game changer.
"What's going to happen to the downtown office market once the Edith Green building comes back on line?" said Mildner.
And Mildner said you don't have to look to far to find what was, and still is, a constant reminder of the impact the real estate downturn can have.
"Park Avenue West was just getting out of the ground, and that project got halted part of the way through," he said.
Those in the commercial real estate business expect we are in for a long stretch of continue growth. A good sign for a healthy recovery.