Similar to the commercial office sector in the area, the Portland retail market has seen further challenges this quarter with rising availability and rental rates. The Kidder Mathews Portland Retail Market Report for the fourth quarter of 2023 shows the vacancy rate is currently at 3.5 percent, up around six percent from a year ago. This may be partly due to the significant decrease in the current construction deliveries, which were down over 50 percent since last year. However, the development pipeline is robust in this submarket providing some positive outlook for the upcoming months.
For the full story, go to The Registry PNW.
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