In its mid-year office report, Colliers says with downtown vacancy down to 2.5% and demand high, CBD rents should break $30/sf before the end of the year. A far cry from the $50/sf grumblings coming from Seattle tenants, but nonetheless a milestone for Portland.

Here's a look at the first half highlights:

Leasing. Carrier Services leased 19,595 sf at the Wells Fargo Building. Portland Gas & Electric agreed to lease 35,000 sf at the 1400 SW Fifth Avenue Building, and Lucy.com leased 25,000 sf in the old State of Oregon Building.

Telecommunications is the lessor's watchword of the second half. The new Fox Tower has dedicated two full floors for telecommunications service providers (TSPs). Inflow leased the Centric Building on NW 12th Ave, and F&F Partners has purchased the Meier & Frank warehouse for redevelopment as a multi-tenant switching facility.

Sales. Unico purchased the US Bancorp. Tower. Venerable Properties purchased the oregon Casket Building on NW Fifth. Just outside the CBD, ODS Health Plans recently purchased the former Pendleton Woolen Mills Factory on SE 17th for $2.6 million for a future corporate facility. Consolidated Freightways leased 16,700 sf at the former US Bank Citizens Branch. Sight & Sound Software leased 10,000 sf at Albers Mill in the River District.

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