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United States | Portland, OR

Report | Portland Office Insight - Q3 2016

Summary

Leasing activity in Q3 was rather lackluster across Portland, with net absorption coming in lower than new deliveries, pushing vacancy rates to 9.0 percent marketwide. But that doesn't tell the whole story. The numbers of tenants seeking space is up 5.4 percent year-on-year with almost 1 million square feet being sought in Q4, suggesting Q3 numbers may have just been a hiccup.

Mirroring national trends, sublease space availability is up 50.5 percent year-on-year as many firms, especially in the tech sector, look to scale back costs. Fortunately for tenants looking to sublease, these spaces are being filled quickly with sublease vacancy at only 0.5 percent of inventory (as of Q3).​

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