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wave of fire sales is forcing a major reassessment of office property values in Portland, with the U.S. Bancorp Tower being a prime example. Once valued so highly that its owner ranked among Portland's top 10 property taxpayers, the tower known as Big Pink has seen its worth plummet. The building's decline reflects a broader shift in the city's commercial real estate market, where once-esteemed properties are now struggling to find buyers or tenants at reasonable prices.
