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Are you in search of Portland office space? We know Portland office space and would love to help you acquire the right space with our free service.

The largest city in the state of Oregon. The city is covering 154 square miles and had an estimated population of 647,805 in the year 2017.  The current population is approximately 2.4M in the Portland metropolitan statistical area (MSA).

Portland, Oregon, is a great location for your business! Just 70 miles east of the Pacific Ocean, at the junction of the Willamette and Columbia rivers, Portland offers a sound economy for business and a great life style for employees. It’s renowned as one of the most environmentally-conscious cities in the world due to careful land-use planning, extensive public transit and relatively low energy costs. The city was ranked as the most pedestrian and transit-friendly city in the US. Because the climate is perfect for roses, the city is filled with gorgeous rose gardens and is home to the International Rose Test Garden. Portland’s skyline is beautiful as the city’s evening lights reflect in waters along the waterfront with magnificent mountains in the background. Portland is a full-fledged city with the atmosphere of a large town.

There are also quite a few office sub-markets in the Portland area. Some of these include Lake Oswego and Beaverton. Within the Portland office space market there are also many areas you may want to consider such as Barbur Boulevard, the CBD, Johns Landing, Kruse Way, Lloyd District, Northwest District, and the very popular Pearl District. We make sure or local reps track all of the office space available in these as well as throughout the region.

OfficeFinder’s LOCAL Portland office space professionals can help you locate the perfect spot for your business, whether you prefer Portland office space to rent, lease or purchase and the service is FREE. You may desire a high-visibility location to attract pedestrian and street traffic or you may want to be conveniently located near interstate highways, along the waterfront, close to PDX international airport or near rail service for shipping your products to consumers around the globe. Portland has it all. From small Portland office spaces to multi-floor corporate headquarters, OfficeFinder will help you locate a site that meets your needs, assist in negotiating a good deal and help you understand the language contained in an agreement before you sign. As experts in Portland office space, we help business owners save both time and money when securing office space in Portland. To start, just fill in the easy form on this page and you’ll be contacted by a LOCAL OfficeFinder representative who will learn details about your unique requirements. Using proprietary databases only available to professionals, OfficeFinder reps can rapidly match your specific requirements with office space Portland has available. You know before visiting the site that the property meets your stated requirements, so the process is much more efficient for you.

Our FREE Portland office space services can also include helping you find an executive suite, virtual office space, finish-to-suit site, medical facility, corporate headquarters, wholesale or retail center or light industry space. Let OfficeFinder assist you in finding that special Portland office space that is right for your business.

 

Portland Office Space Markets

Find Portland Office Space for Lease or Rent

Portland Office Center

Portland's Best Center Has It All! Office Space & Meetings Rooms
1220 Main Place

1220 Main Place Vancouver office space available now - zip 98660
AmberGlen

AmberGlen Beaverton office space available now - zip 97006
Beaverton

Beaverton Beaverton office space available now - zip 97005
Congress Center

Congress Center Portland office space available now - zip 97204
Find Portland office space 909
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Custom House

Stately Custom House Office Space in Portland
Hillsboro Office Space

Best & Affordable Metro Portland Office Space in Hillsboro
Liberty Centre

Liberty Centre Portland office space available now - zip 97232
Lincoln Center

Lincoln Center Portland office space available now - zip 97223
Pearl District

Pearl District Portland office space available now - zip 97209

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What's Happening in The Portland Office Market?

Economy

Portland’s economy remained strong all through 2019. Still there are opportunity for more development, concerns for downturn is not visible. Non-farm job growth for Portland MSA year-over-year (YOY) was 1.7% and totaling 1,226,100 jobs and still growing. Unemployment rate ended 2019 at 3.8%, increased compared to the third quarter. However, year-over-year comparison remains flat. It may be higher than the national average of 3.6%, these rates are still hovering around historic lows for the Portland. A way to project how well an economy is performing is by getting the count of how many cranes are up. According to semi-annual crane index released by Rider Levett Bunall last July 2019, this market has the highest in the country. Seattle and Los Angeles both led the way with forty-nine. The cranes presently standing over Intel’s corporate campus in Hillsboro, one example of a local company growing, but it also shows that that the local tech industry is still in the high-growth stage. Intel released that they are expanding and could create 1,750 more jobs, this is Oregon’s largest employer. Moreover, Nike, Inc. and Adidas both headquarters are in Beaverton and Northeast Portland, are also expanding.

Vacancy

The Portland metro office vacancy ended 2019 at 11.9%, market wide. The suburban market had 10.2% vacancy with 60,853 sq. ft. of net absorption while downtown Portland’s vacancy rate was 13.6%.

Absorption

Net Absorption remained positive at 227,659 sf overall for year 2019, driven by leasing activity in submarkets that had a net absorption of 279, 727 sf as they end the year.

Leasing Activity

Average asking lease rates went up by 2.7% year-over-year. Downtown class B office had the highest annual increase, with an overall growth of 9.7% since Q4 2018. New developments and redeveloped space will continue to push lease rates to become stable. According to CBRE’s Econometric Advisors, estimated 13.3% growth in average asking lease rates over the next five years. The biggest lease happened in the Lake Oswego/Kruse Way submarket. Logical Position, a digital marketing and SEO company signed for 70,303 sf at 6000 Meadows and occupying by April of 2020.  Number of remarkable developments that were originally scheduled to be completed by end of 2019 and projected to be delivered early of 2020. These are 5 SE MLK and District Office, additional 210,000 sf of new inventory to Portland’s Close-in Southeast submarket. Because of good location of Burnside Bridge to the downtown core, these developments are surly will become attractive to prospective tenants.

Rates

Overall, asking rate went up by $0.38 year over year, ending the last quarter of 2019 at $31.10 psf, for full-service gross. The Downtown market raised by $1.06 to $35.33 over the last 12 months. While Suburban decreased to $25.11 per sq. ft. CBD class A was leading the Downtown with asking rates of $38.43 per sq. ft. while Johns Landing led suburban at $32.26 per sq. ft

Construction

One new project was completed as 2019 ended. An additional of 78,298 sf of office space has been delivered by 7 SE Stark, this is in the Central Eastside submarket. Currently, Portland has 608,723 sf of space that are still under construction but 230,000 sf of it were pre-leased. Most of the construction projects will be delivered by mid of this year, 2020. It is projected that it will bring over half a million square feet of space into Portland’s Downtown market. This year’s developments are Taylor in CBD with 178,000 sf, the 5 MLK Central Eastside and the 133,000 sf Canvas at the Press Blocks in the Northwest. There are also proposed development in Portland with over 1.0 million sf additional office space.

To make your search for Portland office space for lease, rent or purchase easier, be sure to contact us. We're experts in helping people navigate the leasing market, and we'll be glad to assist you in finding a new office that meets your space, budget, and amenities requirements. Working with us will take much of the stress out of moving your company or opening a new base of operations. Contact us today to learn more.

Useful Statistics for businesses looking for office space in Portland
  Portland OR State
2016 Estimated Population 620,589 3,982,267
Median Age 36.8 39.1
Housing Units 272,551 1,706,290
Occupied 256,432 1,545,745
Owned 136,114 948,587
Rented 120,318 597,158
Average Household Size 2.36 2.52
Rental Vacancy Rate 2.5% 3.8%
Homeowner Vacancy Rate 1.2% 1.6%
Median Home Value $319,400 $247,200
Median Monthly Rental Cost $1,025 $941
Estimated Mean Income $99,832 $84,441
Median Household Income $58,423 $53,270
Percent of Individuals below poverty level 16.9% 15.7%
Educational Attainment: Percent high school graduate or higher 91.6% 90%
Educational Attainment: Percent high school graduate 15.9% 23.9%
Educational Attainment: Percent with some College 21.7% 26.2%
Educational Attainment: Percent bachelor degree or higher 47% 31.4%
Average Commute time in minutes 25.6 23.2
Commute 325,341 1,792,129
Commute by car, truck or other vehicle - Drive Alone 187,929 1,280,277
Commute by car, truck or other vehicle - Carpool 28,999 184,900
Use Public Transportation 39,303 79,134
Work from Home 24,396 114,104
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