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Industrial Asset Stats by Salem Zip Code

Written on Nov. 18th, 2022

Industrial Asset Stats by Salem Zip Code:   97301 Central Salem has a total of 6.6 million square feet of industrial buildings, and zero square feet currently under construction. The vacancy rate is tight at 1.9%, with rents averaging $9.15 annually – up 7.1% year over year. Sales are transacting at $88 per square foot, which is up 8.3% year over year. Investment transactions are taking place at an…

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Inflation’s Impact on the Economy and Commercial Real Estate

Written on Nov. 18th, 2022
We are amidst a significant market change. Due to unprecedented events, we are currently facing a time of transition with uncertain long-term impacts. This rapidly-changing scenario has two inextricably linked factors: inflation and interest rates. Inflation rates are the highest we’ve seen since the 1980s. It’s been top of mind for many consumers, and …
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New Developments in Salem

Written by Luis Ramirez on Nov. 18th, 2022
SALEM- Several new developments are currently under construction or recently completed in the Salem area.   1233 Riverbend Road NW A new food cart pavilion will be opening in West Salem at a new development. The new pod will be called Checkpoint 221 and will feature 16 food carts, a bar, and an indoor/outdoor dining area. Checkpoint 221 hopes to be…
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Marco Polo Restaurant Changing Ownership after 21 years

Written by Luis Ramirez on Sep. 28th, 2022
SALEM- Marco Polo Global Restaurant is changing hands after 21 years. Owners Jackey and Cathay Cheung recently retired and have handed the reigns over to longtime employee Patty Pakulak. Pakulak was an employee for 12 years under the Cheungs before being approached to take over as new owner. “I’ve been in it for so long and my dad owned a restaurant w…
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Mortgage bonds cool down.

Written by Jeremiah Anderson on Sep. 1st, 2022
Homebuyers were gifted an opportunity in early Aug. as we saw the national mortgage interest average for a 30-year fixed conventional loan decline to 5.05% down from 5.90% almost a month earlier. The Federal Reserve raised the federal funds rate by 75 basis points signaling a strong posture to combat inflation in the economy. In anticipation of the news mort…
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Commercial Real Estate: Retail in Salem by Zip Code

Written by Nick Williams on Jul. 18th, 2022

    Salem’s new Costco is complete, parking lots of our area’s shopping centers are largely full and our residents are seemingly back to normal following a Covid-induced slide in many retail sectors – particularly dining.   There’s certainly more than meets the eye, which has never been more true than now in the retail sector of commercial real es…

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Change of Use is the New Theme in Commercial 

Written on Jul. 18th, 2022
Obsolete design, purposes, industries, and scale mean commercial real estate is seeing a surge in a change of use.   Car lots –a thing of the past? Vacant and half-empty auto dealerships are a sign of the times. Supply chain problems are behind it; they just can’t get the inventory. This unusual situation happens to coincide with a new era of wor…
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Top 5 Tips for Realtors on Mortgage Lending 

Written by Sharon L. Whittemore on Jul. 15th, 2022
Unless your customers are cash buyers, the home mortgage loan plays an integral role in most real estate transactions. The relationship between buyers, lenders, and realtors is important to a successful, prompt closing. And a complementary relationship between the Realtor and mortgage loan officer is essential.    Many factors play into a successful …
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2021 Office Market Recap

Written by Curt Arthur on May. 11th, 2022

CURT ARTHUR, SIOR 

OFFICE MARKET | SVN COMMERCIAL ADVISORS LLC 

Office absorption in Salem turned sharply negative during the pandemic-induced second and third quarters of 2020. Since then, sharp swings in occupancy have been prevalent, as tenants sort out space needs heading into the post-pandemic era. In Q2, 2021, the bulk of the leasing ac…

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Central Area Neighborhood Development Organization

Written by City of Salem on May. 10th, 2022
Central Area Neighborhood Development Organization- You’re already a member! A neighborhood is a group of residents, businesses, property owners, schools, agencies, and congregations within a designed geographical area. If you live, work, or own property in Salem, you are automatically a member of at least one NA (don’t worry, there aren’t any dues!).…
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