2019 teeing up low office lease expiration volume, high industry diversity in Portland
The remainder of 2019 will see a low volume of office lease expirations relative to recent years.
April 02, 2019
- The remainder of 2019 will see a low volume of office lease expirations relative to recent years. There are leases on 2,652,462 square feet of space set to conclude by the end of the year. In the same time period last year, there was 3,073,245 square feet set to expire, and 2017 had 3,342,143 square feet.
- The 4th quarter will experience the bulk, subject to just over 1 million square feet elapsing.
An overwhelming majority of space is in the CBD, 52.6 percent, and Kruse Way following behind at 11.4 percent.
- The industry with the most expiring leases is Professional and Business Services, responsible for 25.1 percent. Finance is the second most, accounting for 23 percent. The vast majority of the two sectors leases are within the CBD.
Source: JLL Research