As 2025 gets underway, Portland’s retail real estate market is demonstrating signs of renewed energy and optimism. The first quarter brought stability, tempered growth, and a notable shift in both investor sentiment and tenant behavior. Key indicators from Kidder Mathews’ latest market report suggest that while challenges remain, the region is navigating the year with cautious strength. Vacancy held steady at four percent—exactly where it stood one year ago—offering evidence of a balanced leasing environment. Compared to the fourth quarter of 2024, vacancy inched up slightly from 3.9 percent, but the market has not shown signs of significant distress or rapid contraction.
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