Portland flexible office landscape is dominated by a
few large players
IWG remains the largest provider of flexible office space with Regus Executive Suites and Spaces - accounting for nearly 40% of all flexible office in Portland.
February 24, 2020
- Given the high profile nature of WeWork’s failed IPO, investors are assessing how exposed their portfolios, and office markets, are to WeWork. Portland’s exposure is notably light at just 26% of total flexible office space, or 0.4% of total office inventory - almost half the national average for major office markets. WeWork leasing accounted for only 2.9 percent of total office leasing between 2018- Q3 2019.
- Portland’s largest local provider is CENTRL Office, which operates 4 locations across the metro. Their latest one being a foray into the suburbs with 30,000 square feet leased in the newly constructed Beacon Lake Oswego.
- CENTRL’s rise as one of Portland’s top flexible office providers has provided a springboard into other markets, with additional locations now in Hood River OR, Los Angeles CA, Sacramento CA and Dallas TX.
Source: JLL Research