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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.

 

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
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?

The first half of the 2019 closed with slight changes to market fundamentals. Vacancy sustained and net absorption was negative with both Downtown and Suburban, recording insignificant changes. The lease rates made little changes quarter by quarter as constructions and renovation projects were going on.

Here are the numbers for Portland office space:

There was an increase in construction pipeline by about 377,00 sf as the McCoy Building and Exchange Block at the Wells Fargo Center started their overall renovation. The expectation for the $600 million Block 216 project has intensified, it was announced that the Ritz Carlton will be operating hotel and will manage the mutlti-family units. This will be chain’s first flag in the Pacific Northwest.

Vacancy Rate:

The vacancy rate for Portland by the second half of the 2019 closed at 11.8%, up 10 bps from an amended first quarter figure of 10.2% though down 20 bps from the 10.5% compared to last year. Over the second half of the year, the overall vacancy rate was high by 10 bps in the CBD to 13.8% while flat at 10.4 % for the suburban markets. Direct vacancy was steady across both the CBD and suburban markets over the quarter with a total of 2.17 million square feet. However, there was some surge in Class B and Class C sublease vacancy in a dash of properties across the CBD, up 32,000 square feet (sf) and 22,221 sf.

Rental Rate:  

The average asking rate went up by 5.3% since the second quarter of 2018 to 30.98 per sq. ft for full service gross. According to the Econometric Advisors, they predicted that Portalnd’s asking lease rates will continue to go up over the next five years by 13.8%, up to $35.00 per sq. ft by 2024. Comparing it year by year, the Downtown submarket went high by 4.7% to $35.14, while the overall suburban amplified discreetly at 1.4% to $25.09 per sq. ft.

Absorption Rate:

Year to date, net absorption sustained positive at 145,253 sq. ft. The main factor was by leasing in the suburban submarkets, which gave Q2 2019 at 242,486 sq. ft. positive net absorption by second half of 2019.

Outlook

There is biggest change expected coming for the Portland office market in new inventory. For the rest of year, there is almost 457,000 sf delivering with 72% of that within the CBD. Among of the total space that will be completed by this year, approximately 18.0% has been pre-leased. In 2020, there will another 380,000 sf delivery, all inside the CBD. One of those projects is the 915 SW 2nd Aveenue at 179,000 sf, has taken by the NW Natural, taking the preleasing for that year up to 47.0%. Moreover, CBD was announced in the quarter, that 35-storey mixed use project at SW Alder and 10th Street, this consist of earlier mentioned project that will be managed by Ritz Carlton Hotel, this has 138 residential condominiums and additional of 180,000 SF of 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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