Ashforth's third class A tower is Lloyd 700, a 16-story, 238,902-sf building built in 1970 and anchored by insurance firm Campbell, Galt & Newlands Inc. Ashforth President Scott Langley tells GlobeSt.com that it was the only Ashforth Building with dot-com exposure, and as a result there is about 39,000-sf available in the building, half of it on the top floor, made available when Supertracks went bankrupt. Annual asking rates are $23 per sf, full service.

As a brand new building, Insignia and Transworld are looking to close deals for space in 1201 Lloyd at between $27.50 and $29.50 per year, says Dan Swift, Insignia's managing director of Portland-area brokerage. Last July, Swift told GlobeSt.com he hoped to have the first tenant signed by the end of September.

"We've been looking for a large tenant to kick off the building," says Swift. "But the last four-and-a-half months most of the larger companies have put their expansion plans on hold while they wait for signs that the economy is recovering. Timing is very important and we just got caught in a time where the market has basically stopped."

Swift is not deterred, however, saying a 12- to 18-month lease up period was built into the proforma. Moreover, he says there are a couple of multi-floor users that are currently located Downtown and looking to make a move, and a loyal base of institutional, insurance and energy-related companies that will ultimately expand.

"If I have to have a vacant building, I'll take it in the Lloyd District," says Swift. "We have the largest block of contiguous space in the Central City, a parking ratio twice that of Downtown and plenty of shopping and eating options. The only thing we don't have is the courthouse.