Servicers’ forbearance portfolio volume dropped last week to a level below 3.00% for the first time in 18 months. The total number of loans in forbearance decreased by four basis points to 2.96%
Peek Inside Ecotrusts Sprawling Portland Food Hub
Dated: September 3 2015
Ecotrust is ready to open the doors on its new food center.
The Redd on Salmon, a two-block project in Portland's Central Eastside neighborhood, has made available 20,000 square feet of move-in-ready space for retail, industrial and office use. The project consists of two primary buildings, dubbed Marble and Foundry.
Ecotrust purchased a large industrial warehouse (Foundry) in September. When a large building in the adjacent block (Marble) hit the market, Ecotrust used New Market Tax Credits to buy it as well, swelling the development to 80,000 square feet of potential space.
Now, the first phase of the project is ready for business. The available space includes a 10,000-square-foot retail or restaurant opening at Southeast Seventh Avenue and Southeast Salmon as well as smaller spaces for food research, development, warehousing, cold storage and distribution. Small office spaces are also available.
Ecotrust describes The Redd as a "food production and distribution campus designed to serve as a kitchen for the Pacific Northwest conservation economy." The nonprofit has established a for-profit subsidiary to manage the project, a structure it uses with its wholly-owned forest management and ocean sciencedivisions.
In May, Ecotrust signed a deal bringing bike delivery company B-Line Sustainable Urban Delivery in as the first tenant of The Redd. B-Line will manage the logistics and distribution portions of the project for future tenants.
Renovation of the Foundry building is expected to begin this fall, readying space for lease in the fall of 2016.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....
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