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Tables have turned for urban leasing

  • ​In 2007 urban leasing made up 37 percent of all leasing activity in the metro area and suburban leasing accounted for the other 63 percent. Total leasing velocity was 3.1 million square feet.
  • A decade later we are seeing a reversal of this trend. So far this year, 62 percent of all the square feet leased in the metro area has been in urban office space, while 38 percent has been in the suburbs.
  • Urban leasing peaked in 2014 as Portland’s tech-heavy workforce fully embraced urban living. Companies leased 3.5 million urban square feet out of a total 5.5 million square feet leased in the metro area.
  • Demand for creative urban space has been fueling the construction pipeline as well as the extensive renovations at aging downtown buildings.​

Souurce: JLL Research

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