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Portland’s average industrial lease size shows impressive 5 year growth

• Portland’s industrial users are growing, with the average lease nearly doubling in size in the past 5 years from 21,803 square feet in 2011 to 41,208 square feet in 2017, a 92 percent jump. 

• In 2011 there were 7 users that leased or built spaces 100,000 square feet and larger, fast-forward to 2017 when Portland saw 16 users over 100,000 square feet. Not only were there more large leases signed but the average size of leases over 100,000 square feet has grown by 26 percent to 249,086 square feet in 2017.

• The labor force in Portland has grown 9.8 percent from 2011 through 2017. This growth in Portland’s labor force has propelled strong demand from large e-commerce and distribution companies as they expand to better serve an expanding customer base.  

Source: JLL Research, BLS

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