Professional services and tech remain the two most active tenant sectors in Portland's office market. As new developments continue to deliver in the Downtown market, a lack of new development in the suburbs may tighten availabilities even further in key submarkets.
The Portland office vacancy concluded 2019 at 11.9%, market wide.
Year-to-date net absorption has remained positive at 227,659 sq. ft., driven by leasing in the suburban submarkets with a year-end net absorption total of 279,727 sq. ft.