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Watch this submarket - 217 Corridor/Beaverton set for strong growth

• The 217 Corridor/Beaverton submarket has been stagnant for the past several years and the closure of Capital One’s call center in 2015 led to a bump in vacancy, which has since stabilized at 15.1 percent. But there is a flurry of leasing activity and demand for space in the submarket is surging.

• JLL is currently tracking 350,000 square feet of active requirements in the submarket, making it the second most sought-after submarket after the CBD. This demand is in addition to the 109,000 square feet of new deals already signed in 2018 that will result in net absorption at the end of 2018.

• The submarket has not seen any new office inventory added since 2009 and there are no proposed office projects in the submarket. 

• With increasing tenant demand and no projects in the pipeline, expect to see vacancy declining to levels not seen since before the great recession and rents to increase over the next year.

Source: JLL Research

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