10 years ago, NAI Elliott broker Sara Daley couldn’t convince any of her local retail clients and restauranteurs to move to Beaverton. While they knew there was revenue potential, they didn’t understand the communities so they were more likely to open up a new location just a few blocks over than in a whole new community.
After the growth we’ve seen in Portland and the surrounding areas, and the challenges around our urban landscape, we’re seeing a lot of these same tenants now actively seeking suburban locations. What they are finding is that their clientele is there waiting for them and are so excited to patronize these businesses.
This suburban outmigration is also creating an interesting opportunity in the Portland central business district (CBD). With some of the concerns around safety and what the experience is like downtown, the community of folks who have always believed in downtown Portland are ready to invest in new concepts and fresh ideas. That community is bigger and more diverse and Sara believes we’re going to see a downtown that retains its identity in terms of innovation and artisan roots, but is completely reimagined.