MODA The class-A MODA Tower is centrally located at 601 SW 2nd Ave. in the central business district.

PORTLAND, OR—Portland’s unemployment rate stood at 3.9% at the halfway point of 2018, unchanged from one year ago. The labor force in Portland has continued to expand and the number of nonfarm jobs has jumped 2.2% year-over-year to 1.197 million positions. With unemployment expected to hold at or near a record low through at least the remainder of the year, companies will continue to go to great lengths to obtain or retain skilled employees, and owners will follow suit with a wide array of improvements as a result.

A recent example is MODA Tower, a 398,412-square-foot office tower in downtown. American Realty Advisors along with JV partner Unico Properties LLC recently acquired the tower for an undisclosed purchase price. The new owners have indicated improvements are afoot for the asset.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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