Portland Office Complex Sells at Fraction of Previous Price, Philadelphia Office Buildings Face Value Decline

The Montgomery Park office complex in NW Portland sells for a fraction of its previous sale price, highlighting challenges in the local real estate market. Philadelphia office buildings also experience a drop in assessed value, with potential further decreases. This episode explores the changing landscape of these office markets and the potential implications for the cities' economies.

Sources:
https://www.oregonlive.com/business/2024/08/montgomery-park-office-complex-in-nw-portland-sells-for-fraction-of-previous-sale-price.html
https://www.bizjournals.com/philadelphia/news/2024/08/09/assessed-value-philadelphia-office-buildings.html
https://www.oregonlive.com/business/2024/08/montgomery-park-office-complex-in-nw-portland-sells-for-fraction-of-previous-sale-price.html
https://www.wthitv.com/news/indiana/terre-haute-city-council-approves-amending-fire-code-for-certain-commercial-buildings/article_073c1c30-55f2-11ef-8ba6-0301f742c121.html

Outline:
(00:00:00) Introduction
(00:00:44) Montgomery Park office complex in NW Portland sells for fraction of previous sale price
(00:04:03) Philadelphia office buildings lose 6% in assessed value, but losses could grow
(00:06:57) Montgomery Park office complex in NW Portland sells for fraction of previous sale price
(00:09:29) Terre Haute City Council approves amending fire code for certain commercial buildings