Shifts in Portland’s Retail Leasing Landscape Take Form As Year Winds Down
Proportion of Service Sector Deals Dwindles, While Retail Trade Deals Increase Retail trade sector leasing is on the rise in Portland, according to CoStar lease data. By John Gillem CoStar Analytics November 27, 2023 | 10:24 AM Retail trade leasing in Portland, Oregon, has regained an outsized market share once again, with the sector now accounting for approximately 85% of leasing volume thus far in 2023. The largest prospective retail tenants…
Portland Office Leasing Fundamentals Mixed at Mid-Year Mark
Larger Blocks of Space Signed for Downtown By John Gillem CoStar Analytics July 31, 2023 | 11:48 AM Office market challenges in Portland, Oregon, continue into the third quarter of 2023, despite some heavy leasing activity in the downtown core. Utilization patterns suggest a normalization for many employers may be months away, which has resulted in additional space scrutiny from potential and in-place tenants. Over the preceding three quarters, the number of…
Portland Sales Volume Declines Across All Property Types
Slowdown in Sales Activity Eclipses Rate Seen During the Great Recession Multifamily properties are leading all investment types in Portland. By John Gillem CoStar Analytics June 19, 2023 | 11:09 AM The number of commercial property sales transactions continued to sputter along in Portland, Oregon, posting a quarter-over-quarter decline of nearly 29% as of the second quarter-to-date in 2023. Overall sales volume thus far totals $3.4 billion, which would be the…
New Year Promises Modest Gains for Portland’s Industrial Pipeline
Development Remains Steady, but Activity as a Share of Inventory Trails Peer Markets By John Gillem CoStar Analytics January 4, 2023 | 8:32 AM Some metropolitan areas across the country are bracing for record completions in the form of industrial inventory during the upcoming year, but Portland, Oregon, will see a relatively light wave of industrial supply in 2023. While developers remain active across the region, new projects completed in the near…
Pacific Northwest ‘Zoom Towns’ Fall From Grace After Rapid Expansion During Pandemic
Wave of Apartment Construction Undercuts Rent Growth As Renter Demand Returns to Major Cities By John Gillem and Elliott Krivenko CoStar Analytics October 4, 2022 | 2:09 P.M. Many areas in the Pacific Northwest that saw the greatest increase in apartment rents last year were located in smaller secondary markets that saw an influx of remote workers from major coastal cities. Sometimes referred to as 'zoom towns,' these typically scenic…
Portland’s Denser Office Nodes Stymie Market Recovery
Suburbs' Performance Offset by Disproportionate Share of Sublet Availabilities in City's Core By John Gillem CoStar Analytics August 19, 2022 | 1:23 P.M. New office sublease listings in Portland, Oregon’s office sector continue to swell in the densest areas of the region. Though earlier in the year it seemed as if the tenant exodus from central Portland was slowing, it now appears that tenants are hesitant to come back or…
Portland Sees Decade-High Office Investment for 2019
By Emily Anderer CoStar Analytics January 29, 2020 | 03:05 P.M Portland's dynamic economy, accompanied by structurally low office vacancy rates below 8% for more than four years and a cumulative rent growth increase of 34% in the past decade, continues to heighten its profile as an investment market. This past year's sales activity will certainly help build that profile. In 2019, Portland, Oregon, recorded $1.65 billion in…
