IRR-Portland Mid-Year Viewpoint 2015 Local Market Report - Office
CBD and close-in east-side construction has re-emerged as a new force, with additional renovation of traditional Class A space into creative/collaborative office formats. Rental rates have begun to increase to meet strong demand, encouraging new construction. Portland's newest CBD office tower, Park Avenue West, is nearly entirely pre-leased. Additional Pearl District and Alphabet District development should come on-line over the next one to three years. Meanwhile, flex office space is booming in the western suburbs as Nike and Intel both rapidly expand. We anticipate continued strength in the office market though the next five year cycle.
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IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.