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Portland Market Reports

Portland Office Market

Average Asking Rent (Price/SF) $26.07
Vacancy Rate (%) 10.5%
Net Absorption (SF) 51,928

The Portland office market absorbed 51,928 square feet of space in the second quarter of 2017. The largest positive absorption of the quarter occurred in the Central Business District (CBD) submarket, where 74,533 square feet was occupied. The majority of this absorption was due to multiple tenants, including the city of Portland and Chegg, leasing a total of 32,548 square feet at CH2M Center.

Portland Industrial Market

Average Asking Rent (Price/SF)            $0.70
Vacancy Rate (%)             3.6%
Net Absorption (SF)      855,410

The Portland industrial market absorbed 855,410 square feet of space in the second quarter of 2017, compared with 152,621 square feet in the first quarter. The Northeast/Columbia Corridor submarket experienced the largest positive absorption of the first quarter with 350,815 square feet. This positive absorption can largely be attributed to two tenants: Staples, which occupied 263,413 square feet at Interstate Crossroads Distribution Center; and CTDI, which occupied 210,000 square feet at 22638 Northeast Townsend Way. The Clark County submarket posted the second-highest absorption with 302,463 square feet, caused almost entirely by a single tenant, Sunlight, occupying 306,000 square feet at its newly completed headquarters in Vancouver. The building, located at 3212 Northwest Lower River Road, completed construction in the second quarter.



Portland Office Market Report
2Q17
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Portland Industrial Market Report
2Q17
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