The new Portland office standard: outdoor elements
The tenant amenity race has been a key theme of this cycle as landlords attempt to stay relevant in Portland’s competitive office market
June 04, 2019
- The tenant amenity race has been a key theme of this cycle as landlords attempt to stay relevant in Portland’s competitive office market. Renovated lobbies, gyms and locker rooms are now standard but another offering that may be surprising for a notably wet weather market is the rise of outdoor space.
- 82 percent of all speculative deliveries in the Urban Core since 2016 have included outdoor elements like rooftop decks, exterior built-in patios and courtyards.
- Outdoor spaces like decks and patios have also become more lucrative for landlords. With the BOMA 2017 update, landlords are now able to charge for decks and patios, or absorb them into the load factor of a building, increasing a building’s RBA.
- With the current construction pipeline, outdoor spaces are set to get even more outlandish. 7 SE Stark has 14 outdoor terraces and the mixed-use 5 MLK and The Collective both have rooftop amenity terraces with outdoor pools.
Source: JLL Research