Portland Industrial Market Report 1Q 2026

Mar 31, 2026

Portland's industrial market in Q1 2026 experienced direct vacancy rising to 6.5% (a 15-year high), up 160 basis points year-over-year, with asking rents averaging $0.87 PSF NNN under pressure from increased concessions and sublease activity, while net absorption remained negative at -872,345 SF and leasing volume improved 31% year-over-year to 2.5 million square feet. The regional unemployment rate for Portland-Vancouver-Hillsboro MSA reached 4.9% as of December 2025 (up from 4.1% year-prior), manufacturing employment declined 4.3% year-over-year to 114.7k jobs, and meaningful market recovery is not expected until at least 2027 due to continued supply deliveries and uneven absorption across submarkets.

Industrial & Logistics Portland Oregon United States

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Publisher: Kidder Mathews
Obtained from: Kidder Mathews
Published: Mar 31, 2026
Last updated: Jun 28, 2026 (1 month ago)

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