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Sunset Corridor flex continues to outperform

• Home to two of the metro’s largest employers, Intel and Nike, the Sunset Corridor is Portland’s premier flex submarket and makes up nearly 45 percent of Portland’s total flex market.

• With very little new construction delivered over the past 11 years and nothing in the pipeline, vacancy is near the all-time low at 4.2 percent and rents continue to increase faster than the rest of the market.

• Overall average asking rents hit a new high of $1.21 NNN per month in the first quarter, an increase of 3.4 percent year-over-year and up 55.1 percent since 2012.

• For larger tenants there are just two spaces available larger than 50,000 square feet and with no new construction on the horizon, the submarket is set to remain tight for the rest of 2018 and 2019.

Source: JLL Research

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