![Pearl District Swaps Tasting Room for Homeless Shelter, and a Big Property Owner Looks to Sell: Willamette Week [09/10/25]](https://www.hfore.com/wp-content/uploads/2026/05/Depositphotos_10425436_S.jpg)
Pearl District Swaps Tasting Room for Homeless Shelter, and a Big Property Owner Looks to Sell: Willamette Week [09/10/25]
Pearl District Swaps Tasting Room for Homeless Shelter, and a Big Property Owner Looks to Sell Willamette Week | Seychelle Marks-Bienen and Anthony Effinger | Sept. 10, 2025
Willamette Week turned to HFO Investment Real Estate Director of Market Intelligence Aaron Kirk Douglas for an expert read on the proposed Portland vacancy tax. The story framed the sale of 44 Pearl District storefronts by the owner, SITE Centers. Douglas noted that vacancy taxes in other cities have produced mixed results. He also warned that, absent better data, Portland risks “creating another regulatory burden” with little benefit. He made this point on HFO’s website in July. The collection of storefronts, known as The Blocks, totals 95,430 square feet. It was 66.4% leased at the time of the offering.
[Read the full story] Pearl District Swaps Tasting Room for Homeless Shelter, and a Big Property Owner Looks to Sell 091025
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