AmberGlen's New Class A Feeling the Recession

HILLSBORO, OR-A little more than a year ago, the e-commerce software maker Webridge expanded its lease from 50,000 sf to more than 66,000 sf in the 1925 Building, then a two-year-old class A office building at Birtcher Real Estate Group’s 217-acre AmberGlen Business Center. The building was 98% occupied.

A little more than a month ago, Webridge cut back to about what it expanded into, putting 48,000-sf on the sublease market at a discounted price, half of it plug-and-play and half of it unimproved shell space, leaving the 95,000-sf building 37.5% occupied.

Between those two events, and smack dab in the middle of the recession, the identical 1915 Building was delivered at a much higher price point. Including a 6,000-sf lease that was signed last week, the building is 8.5% occupied.