Portland Office Market
| Average Asking Rent (Price/SF) | $31.40 |
| Vacancy Rate (%) | 15.6% |
| Net Absorption (SF) | 281,912 |
The Portland Metro area finished out the third quarter of 2021 with 281,912 square feet of absorption, the first quarter of positive absorption in 2021. Vacancy has held constant at 15.6%, with the highest vacancy rates in the Close-In Northwest and Close-In Southeast neighborhoods and shrinking vacancy in Tigard and Kruse Way. A jump in available inventory can be partially attributed to the completion of the 10 TwentyOne building, adding nearly 275,000 square feet of availability to the Central Business District.
Download Portland Office Market Report 3Q21Portland Industrial Market
| Average Asking Rent (Price/SF) | $0.97 |
| Vacancy Rate (%) | 4.0% |
| Net Absorption (SF) | 573,399 |
In the third quarter of 2021, the total industrial inventory grew slightly to 201.6 million square feet, a 100,000-square-foot increase from the second quarter. Absorption slowed this quarter, dropping from 1.9 million square feet to 573,400 square feet. Vacancy remained low this quarter at 4.0%, just 0.3% lower than the previous quarter. The overall asking rent was $0.97/SF, a sharp $0.20/SF increase from last quarter.
Download Portland Industrial Market 3Q21