Portland Office Market Report 2Q 2025
Portland's office market experienced weakening fundamentals in the second quarter of 2025, with unemployment rising to 4.5%, office vacancy reaching a record high of 24.3%, and net absorption declining by 311,820 square feet despite modest job gains in education, health services, and information sectors. Average asking rents dipped slightly to $31.30/SF while leasing activity remained subdued, with tenants increasingly favoring affordable suburban submarkets over the downtown core, and no new office construction projects underway amid challenging market conditions.
Published by Newmark. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Provenance
- Publisher
- Newmark
- Obtained from
- Unknown: source not established
- Published
- Jun 30, 2025
- Last updated
- Jun 28, 2026 (1 month ago)
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