Snapshots

Portland scores high on ULI annual report

Portland placed 1st amongst all markets in the country for “Development/Redevelopment Opportunities” in Urban Land Institute’s annual Emerging Trends in Real Estate report.

October 02, 2019
  • Portland placed 1st amongst all markets in the country for “Development/Redevelopment Opportunities” in Urban Land Institute’s annual Emerging Trends in Real Estate report.
  • The introduction of Opportunity Zones with Portland’s favorable designations of the majority of the CBD and the Close-in Eastside is sure to have contributed to upbeat developer and investor sentiment. A few local developers have set up opportunity funds to take advantage of the large number of surface parking lots and industrial properties ripe for redevelopment.
  • This developer sentiment is evidenced by the current construction cycle delivering 3.8 million square feet of new and redeveloped office to the urban core over the past 5 years and another 1.675 million square feet currently under construction/renovation.
  • Portland also fared well for investor demand, ranking 13th and had the 6th lowest “Sell” recommendation for office assets with 85 percent of respondents recommending a “Buy” or “Hold.”

Source: Urban Land Institute, JLL Research

Like what you read?