Commercial Real Estate in Portland
1,620 results
$2,542 -
$8,443/month
5,404 SF
$4,469 -
$8,542/month
3,861 SF
$25,881 -
$56,585/month
$3,300,000
Lease:
$16,980/month
$4,500,000
$988 -
$5,853/month
3,193 SF
$379,000
$1,599/month
$4,594/month
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$4,593/month
3,500 SF
$4,000/month
$2,117 -
$4,859/month
2,184 SF
$1,484 -
$15,607/month
9,624 SF
$1,133 -
$6,800/month
4,800 SF
$1,425,000
$526 -
$8,474/month
4,068 SF
$2,450 -
$87,378/month
20,940 SF
$2,395 -
$7,319/month
3,588 SF
5,505 SF
$4,387/month
$5,119 -
$13,642/month
6,617 SF
$2,500,000
Lease:
$2,231 -
$6,197/month
2,975 SF
4,606 SF
$7,035 -
$25,110/month
13,101 SF
$7,250,000
$7,557/month
$1,122/month
$300 -
$402/month
201 SF
$3,550 -
$8,444/month
4,222 SF
$916 -
$10,012/month
5,006 SF
$650/month
$2,623/month
$699 -
$750/month
192 SF
$2,500,000
6,014 SF
$1,783/month
$34,373/month
$3,716/month
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Portland Office and Commercial Space Overview
A bustling and exciting cultural beacon in the beautiful Pacific Northwest, Portland has long been considered a secret gem of the arts and music scene, but its legacy lies deeply rooted in industry and commerce.
Covering 145 square miles and home to nearly three-quarters of a million people, the city is the second largest by population in the northwest region of the United States. And while population growth has slowed in the last year, the city remains a popular destination for affluent, educated young professionals seeking a home in a robust and thriving city.
Hundreds of new constructions are underway throughout the city, allowing for more mixed-use, residential, and commercial properties in every unique corner of the Rose City. While most of the redevelopment efforts are centered around both sides of the Willamette River, Portland’s history as a port city have provided large-scale warehouse and industrial spaces for companies in need of manufacturing, technology, biotechnology, and warehouse facilities.
Portland’s commercial real estate market is competitive, but relatively cheap compared to other cities of its size. With over 500 vacancies at a median rate of $26 per square foot/year, companies seeking office space within the city’s urban core or further near transportation and shipping will have no problem finding ample space to suit their needs.
Economy of Portland
A dream for infrastructure-oriented businesses, Portland’s low-cost energy, readily available resources, easy access to transportation, and well-established history with marine shipping facilities make it a working class powerhouse with a high-tech edge. The city’s marine terminals handle over 13 million tons of overseas cargo each year and serves as one of the largest dry dock facilities in the United States.
Heavy industry continues to hold an important focus in Portland, with steel companies such as ESCO, Oregon Steel Mills, and Schnitzer Steel Industries providing billions of tons of scrap metal to the United States and the rest of the world. But technology has revitalized Portland’s economy, with more than 1,200 companies operating in the sector. Companies like Nike, Adidas, Columbia, Fred Meyer, and more call Portland home.
The city’s median household income rests at a healthy $58,423 per year, $3,000 higher than the national median household income. And while home prices have risen alongside the city’s considerable growth spurt, the number of new constructions - and a lower median home price than comparable cities - show that Portland continues to be an attractive destination for talented, educated young professionals seeking their first home.
Trends of Portland
Thanks to a heavy influx of new residents and companies seeking well-qualified employees, Portland’s commercial real estate market is expanding quickly. Hundreds of new developments are underway throughout the city, including mixed use spaces, retail facilities, shopping centers, residential buildings, and large-scale office complexes to meet the demands of the ever-growing interest in the Portland business community.
In the city’s Center City district, which includes downtown and its surrounding areas, over 5,200 residences have been built since 2011 and the same number are expected to be completed within the next three years. Despite the rapid growth in the housing market, affordable housing continues to be a point of contention in Portland, which may affect the number of available working class talent in the area. In the same area, however, millions of feet of new office space has been constructed over the last decade, including a construction at Park Avenue West and adaptive reuse of older constructions within reach of the city’s center.
Market Stats
Portland has 2,189 commercial real estate spaces for lease, representing 19,306,862 sqft space.
651 buildings are available for sale.
In the past 30 days, Portland has had 690 spaces leased and 5 new spaces come on market.