Portland’s office market continues to face headwinds, with vacancy rates in the third quarter of 2024 hitting a record high of 13.6 percent and a continued negative net absorption – -610.3k square feet – that marks the fifth straight quarter of decline. According to a recently released Portland office market report from Kidder Mathews, the city’s challenges are set against a backdrop of broader economic difficulties, as Portland continues recovering from the pandemic, with job growth lagging and population decline adding to the pressure.
For the full story, go to The Registry PNW.
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