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Entries Tagged as 'Portland Office Space'

Portland Office Space Update

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Portland, Oregon has been described as America’s most European city, and has earned several nicknames, including “City of Roses”, “Stumptown”, and “Rip City”.   Portland is also referred to as one of the most environmentally friendly, or “green”, cities in the nation because of its emphasis on building public transportation networks and efficient land-use planning. 

Portland is a city with liberal political values, abundant outdoor activities, a lively arts and music culture, vast green spaces, and numerous micro-breweries and coffee shops.  It is fast becoming a destination for “foodies” because of its robust culinary scene.  It has a wide variety of restaurants, catering to all genres and cultures, including vegetarians and those looking for vibrant street food offerings.

Located east of the Pacific Ocean, Portland is a city of many lakes, rivers, mountains, and forests.  With a temperate, oceanic climate, it is the perfect environment for outdoor activities such as fishing, camping, hiking, mountain climbing, biking, and walking.  Portland’s city park system has been designated as one of the best in the nation.  

Tourism plays a significant role in the local economy.  Offering beautiful scenic views, vibrant neighborhoods, many historical sites, and a close proximity to both the mountains and the ocean, Portland brings people in from all over the world.  Its location makes it beneficial to several industries, including import/export, and international trade.  In addition, the metro-area is home to more than 1,200 technology companies, including Intel.

The market for office space market in Portland and teh surrounding area is tight, with only San Francisco being tighter.  As things tighten in the Central Business District, suburban markets continue to recover as new developments come on the market.  Tenants should be prepared for a landlord favorable market.  All the more reason to engage the FREE services of a qualified local office tenant representative, like the ones we have at OfficeFinder.

Market

Vacancy SF

Avg. Rental Rate $

CBD

 

Class A - 1,008,454

Class B - 772,288

 

Class A - $25.88

Class B - $21.07

Suburban:

Eastside

 

Westside

 

 

Class A - 138,904

Class B - 451,635

Class A - 439,904

Class B - 1,264,034

Class A - $24.02

Class B - $17.90

Class A - $21.25

Class B - $16.68

  Source: Colliers International, The Knowledge Report, Q1 2013   

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By: James Osgood

Office Rental , Office Space , Office Vacancy Rate , Portland Office Space , Tenant Representation