Not only is Fox Tower's occupancy rising toward 98% at a timewhen the Downtown average is sinking toward 90%, but also its fistsignificant lease renewal effort won't be necessary for at leastthree years -- right about when the economy is expected to beroaring again.

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In the meantime, what little space left to lease in the buildingcontinues to shrink. Aliquant, a Connecticut-based maker of salesadministration and fulfillment software, two weeks ago leased 6,418sf on the fourth floor for five years at a full service ratebelieved to be right around $26 per sf. Aliquant was represented byChris Elsenbach, CRESA Partners. Scott Madsen, Cushman &Wakefield, represnts Moyer in Fox Tower office leases.

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According to property manager Dale Pearce, direct availabilitiesin the building now consist of about 22,000 sf on three floors.Additionally, Pearce tells GlobeSt.com that a deal is pending forthe 11,000-sf, two-story space that fronts Broadway Avenue on thesouth side of the building's main entrance. The north side isoccupied by Banana Republic.

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Pearce would reveal no more information about the would-be user,and listing brokers Mark New and Steve Neville could notimmediately be reached for comment, not that they would havespilled the beans. The remaining available retail space is a10,000-sf restaurant space on the northwest corner of the building,adjacent the entrance to the building's third-floor movie theaterand across the street from a parking lot Moyer donated to the cityfor a future park.

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Moyer, who was not immediately available for comment Wednesdayafternoon, told GlobeSt.com in August 2000, shortly after thebuilding was completed, that the only real risk was that theeconomy would "go sideways" during the previous two years ofconstruction.

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"If you analyzed the market, the building is at ground zero, sothe (underground) parking was going to be a cash cow with all theretail nearby," Moyer told GlobeSt.com. "The retail space in thebuilding was also hot from the get go, and with office vacancieslow, the only real gamble was the economy."

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And while the theater magnate-turned-office developer gambledand won, as the economy kept chugging for nine months after theproject was completed, the developers of a more modest projectacross town are now trying to avoid the opposite fate.

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With no tenants yet secured, New York-based Insignia/ESG andHouston-based Transworld Properties are just four or five monthsaway from seeing their 222,500-sf mid-rise office buildingcompleted in Portland's Lloyd District, which lies outside theDowntown core but still within the CBD.

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Dan Swift, managing director of Portland-area brokerage for NewYork-based Insignia/ESG, was not immediately available for commentWednesday afternoon on any pending deals he may be working. In Julyof this year, he told GlobeSt.com his goal was to have the fistsigned lease in hand by the end of September.

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And then came September.

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