The Portland retail market in Q3 2025 saw a slight increase in vacancy and a healthy rise in asking rents, while construction activity and sales pricing declined. Deliveries surged year-over-year, and net absorption showed signs of stabilization. Explore our full Portland retail market report for detailed insights into leasing, investment, and development trends.
3Q 2025 Portland Retail Market: Key Data Points
- Vacancy Rate Rises Slightly: Retail vacancy increased to 4.4%, up 40 basis points year-over-year.
- Asking Rents Increase: Average asking rent reached $1.98/SF, a 6.22% rise from Q3 2024.
- Construction Pipeline Contracts: Space under construction dropped to 145,630 SF, down 40.8% year-over-year.
- Sales Prices Decline: Average sales price per square foot fell to $166, a 22.6% decrease year-over-year.
- Construction Deliveries Surge: YTD deliveries reached 426,486 SF, a 281.7% increase from the prior year.
- Net Absorption Improves: Net absorption YTD was -11,366 SF, a significant improvement from -355,918 SF in Q2.
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