Forum shares a wealth of commercial real estate knowledge
The feeling among March's Breakfast Forum panel is the commercial real estate market may be seeing the peak of a season, but like an intense baseball game, it could be going into extra innings with plenty of game left.
Norris Beggs & Simpson's Blake Hering moderated a panel with a variety of perspectives - the panel included Gramor's Jonae Waldroop, who has experience in retail; CBRE's Paige Morgan, who knows capital markets; Rembold's Kira Cador, who works in the multifamily industry; and Harsch Investment Properties' Steve Barragar, who knows office and industrial space.
The panel shared their insight about the commercial real estate market on the Westside and beyond.
Waldroop said retail properties and businesses that do well are those that stay relevant to their customers.
Another point about retail Waldroop made is the fact consumers usually establish relationships with a brand in a brick and mortar situation, pointing out how as humans we are tactile.
Barragar talked about the office and industrial markets and why it's important to have a variety of space for mitigating risks.
One thing that surprises him today is the recreation type businesses moving into industrial space.
Morgan said E-commerce has changed both retail and industrial markets, as those delivering packages to consumers look for industrial space closer to its customers and the last mile of delivery.
In fielding a question about multifamily development, Cador said costs and affordability are always a challenge.
She said the supply of multifamily is up, which helps affordability, but she said the pipeline of homes being built is slowing down partly due to regulations, like in the City of Portland, which she said can help other areas of the region, like Washington County, appear more attractive to investors.
WEA wants to thank the Standard's Mike Morey for fielding questions in the audience; PacTrust, Harsch Investment Properties, and The Standard for its sponsorship of this event; and Legacy Health for its sponsorship of the forum series.
If you want to hear more of this conversation, TVCTV will broadcast this program on its media channels in about two weeks.
Photos from the event are also available on the WEA Facebook page.