PORTLAND, OR—JLL's recent search of thePortland area for office space options on behalf ofKnowledge Universe shows just how far the markethas tightened in the last 12 months, the firm says.
Brokers Eric Haskins and BuzzEllis explored opportunities throughout Portland'sCentral Business District as well as suburbs likeBeaverton and Lake Oswego.
Preliminary JLL second quarter office numbers show that the CBDoffice market has again grown tighter, with vacancy dropping to8.4%, its lowest level in at least 10years and down 80 basis points from last quarter. The CBDclass A market has seen rental rates increase at a rapid rate, withaverage asking rental rates hitting a new high this quarter of$29.27, up 1.4% quarter over quarter and up 8.3% year overyear.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
