{"id":2692,"date":"2017-02-09T09:11:33","date_gmt":"2017-02-09T17:11:33","guid":{"rendered":"https:\/\/www.officefinder.com\/officeblog\/?p=2692"},"modified":"2017-02-07T10:17:57","modified_gmt":"2017-02-07T18:17:57","slug":"portland-office-space-update","status":"publish","type":"post","link":"https:\/\/www.officefinder.com\/officeblog\/portland-office-space-update\/","title":{"rendered":"Portland Office Space Update &#8211; A Tight Market"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-2694 size-full\" src=\"https:\/\/www.officefinder.com\/officeblog\/wp-content\/uploads\/2017\/02\/portland2-e1486491205398.jpg\" alt=\"portland office space skyline\" width=\"131\" height=\"89\" \/>Our local reps in Portland just came out with an update on Portland Office Space. All in all, it shows a very healthy market with a low vacancy rate, but one in which tenants will need the assistance in finding and negotiating for office space.<\/p>\n<h3>Here are the key points of their recent report:<\/h3>\n<ul>\n<li>The marketplace for Portland office properties grew during 2016, with over 1 million square feet of new and adapted supply came online amid institutional investors initiating or increasing ownership stakes.<\/li>\n<li>Office development set records in 2016 and remains very active heading into 2017. Pre-leasing activity has become more common and the vacancy rate remained stable in the 8% range.<\/li>\n<li>Company&#8217;s appetite for office space in 2018 could be affected in the event of a broader downward business and economic cycles, but our region\u2019s relative advantages should temper these trends.<\/li>\n<li>The Portland Office space market strengths include a diversified economy with lower business, commercial real estate, and living costs relative to neighboring West Coast cities, and a well-educated and well-paid workforce.<\/li>\n<li>These lower costs attract technology companies and their employees to Portland, where venture capital funding set a 5-year record in 2015 at $283M. Start-ups are an important part of the tenant mix due to their high growth potential.<\/li>\n<li>The Oregon Employment Department recently reported the Portland metro area\u2019s GDP grew 4.6% in 2015, 10th-fastest among the largest 100 U.S. metros. The Professional &amp; Business Services category was the second-largest contributor to this growth, and is a key user of office space.<\/li>\n<li>The current vacancy rate stands at 8.6% after absorption of over 121,000 square feet in Q4 2016.<\/li>\n<li>The average Class A rent is $29.33<\/li>\n<\/ul>\n<p>If you would like more information or need office space in Portland, <a href=\"https:\/\/www.officefinder.com\/office_space_search\/?m=909\">contact our local rep<\/a>. We will be happy to answer questions or help you find your next office space. All at no cost to you for our services.<\/p>\n<p><span style=\"border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px\/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c no-repeat scroll 3px 50% \/ 14px 14px; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer;\">Save<\/span><\/p>\n<p><span style=\"border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px\/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c  no-repeat scroll 3px 50% \/ 14px 14px; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer;\">Save<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our local reps in Portland just came out with an update on Portland Office Space. All in all, it shows a very healthy market with a low vacancy rate, but one in which tenants will need the assistance in finding and negotiating for office space. Here are the key points of their recent report: The\u2026 <a href=\"https:\/\/www.officefinder.com\/officeblog\/portland-office-space-update\/\">Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[286],"tags":[],"class_list":["post-2692","post","type-post","status-publish","format-standard","hentry","category-portland-office-space"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\r\n<title>Portland Office Space Update - A Tight Market<\/title>\r\n<meta name=\"description\" content=\"Our local reps in Portland just came out with an update on Portland Office Space. Here are the key points of their recent report:\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.officefinder.com\/officeblog\/portland-office-space-update\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Portland Office Space Update - A Tight Market\" \/>\r\n<meta property=\"og:description\" content=\"Our local reps in Portland just came out with an update on Portland Office Space. Here are the key points of their recent report:\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.officefinder.com\/officeblog\/portland-office-space-update\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Business Intelligence\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/officefinder\" \/>\r\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/officefinder\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-02-09T17:11:33+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.officefinder.com\/officeblog\/wp-content\/uploads\/2017\/02\/portland2-e1486491205398.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"131\" \/>\r\n\t<meta property=\"og:image:height\" content=\"89\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Jim Osgood\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@officefinder\" \/>\r\n<meta name=\"twitter:site\" content=\"@OfficeFinder\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jim Osgood\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/\"},\"author\":{\"name\":\"Jim Osgood\",\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/#\\\/schema\\\/person\\\/0fbeadefeb163aceb433048e790d951b\"},\"headline\":\"Portland Office Space Update &#8211; A Tight Market\",\"datePublished\":\"2017-02-09T17:11:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/\"},\"wordCount\":319,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/portland2-e1486491205398.jpg\",\"articleSection\":[\"Portland Office Space\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/\",\"url\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/\",\"name\":\"Portland Office Space Update - A Tight Market\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/portland-office-space-update\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.officefinder.com\\\/officeblog\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/portland2-e1486491205398.jpg\",\"datePublished\":\"2017-02-09T17:11:33+00:00\",\"description\":\"Our local reps in Portland just came out with an update on Portland Office Space. 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