HARSCH Buys Into the Growing and Changing Central Eastside

HARSCH Investment is one of Portland’s largest and iconic real estate companies. Started by his father Harold, Jordan Schnitzer has grown the diversified real estate development and investment company into 6 states, multiple offices and over$ 2 billion in assets. Their portfolio is varied and diversified into many product types and much of their investment over the last 10-15 years has been more concentrate into good suburban locations of major markets but lately they have been understanding the change and renaissance going on in many older core markets in major cities. Like others real estate companies they have seen the most recent change in the Central Eastside from older dilapidated warehouses into trendy restaurants, creative offices and upgraded smaller industrial incubator spaces. So when HARSCH bought the 3 block properties formerly owned by Dealers Supply Company “We really have watched how the area has grown up and changed for the positive over the last decade and have really wanted to see if we can find a project or property that might position us to be part of that tide of transformation” says Portland regional director Steve Rosella. HARSCH is developing how best to utilize the properties which Roselli relates probably will entail some strategic but inexpensive upgrades to get the space and property leased up in the short term and then will continue to monitor the pace and depth of the area’s redevelopment to understand what the long term large development plan may entail. HARSCH also is trolling for other opportunities as they see this area not being a “flash in the pan” but rather a long term growth area that only will get better over time.