Annual survey finds plenty of vacant spaces.Byline: DEVELOPMENT REPORT By Christian Wihtol The Register-Guard Eugene has an abundance of vacant commercial space, a new report said. In its annual survey of suburban Eugene office space, and office and retail space downtown, real estate appraisal Real estate appraisal An estimate of the value of property using various methods. firm Duncan & Brown found: The vacancy VACANCY. A place which is empty. The term is principally applied to cases where an office is not filled. 2. By the constitution of the United States, the president has the power to fill up vacancies that may happen during the recess of the senate. rate of non-downtown offices - at Country Club Road, Valley River Center Valley River Center is a shopping mall located in Eugene, Oregon. As the largest shopping center south of Portland and north of San Francisco, this mall comprises over 130 local and national stores and restaurants. and the periphery periphery /pe·riph·ery/ (pe-rif´er-e) an outward surface or structure; the portion of a system outside the central region.periph´eral pe·riph·er·y n. 1. of downtown - was 9.44 percent, down from 10 percent a year ago, which was the highest rate since 1993. The suburban office market has 1.024 million square feet of space, of which 97,000 square feet are vacant, the firm said. The downtown office vacancy rate is 23.44 percent, the highest since 1986. The downtown has 1.022 million square feet of office space, of which 240,000 square feet are vacant. The downtown retail vacancy rate is 8.47 percent, down from last year's 10.16 percent. The downtown has 712,000 square feet of retail space, of which 60,000 square feet are vacant, the report said. In the suburban market, rents overall have not increased from last year, and there are signs that owners are offering concessions, such as better tenant improvements, longer fixed rent levels or rent cuts, Duncan & Brown reported. "During re-rent, property owners indicated that it has been difficult to achieve higher rent levels, and many indicated that rents are remaining stable or are being reduced slightly at rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. ," the report said. The firm said it expects the suburban office vacancy rate to decline in the next several years, assuming the national economy improves. By fall 2004, the suburban office vacancy rate may dip to between 8 percent and 9 percent, the firm said. But "it is likely that ... efforts by property owners regarding reconditioning of property, and the need for rent concessions, will continue," the firm added. In downtown, the office market is likely to remain soft for up to two years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time report says. The construction of an office building at 10th and Mill streets by Guard Publishing Co., publisher of The Register-Guard, along with the shift of some city offices from leased space downtown into the new city-owned Eugene Public Library building, put space on the market, Duncan & Brown noted. Once the new federal courthouse is built, some federal offices will move there from space they now rent in the city center, the firm noted. Looking out five to seven years, PeaceHealth plans to move Sacred Heart Medical Center Sacred Heart Medical Center may refer to: In the United States:
This additional available office space "will be indirectly competitive with the downtown core
The Downtown Core is a 266-hectare urban planning area in the south of the city-state of Singapore. area," the firm said. For a copy of the report, visit www.duncanbrown.com. Development Report runs Tuesdays. |
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