Portland Industrial Real Estate – Market Update 1Q 2017
Every quarter, Capacity Commercial Group conducts an in-depth analysis of recent market data for the Portland area, and provides a summary report to clients via newsletter. The comprehensive Capacity Commercial Group 1Q 2017 report can be found HERE.
Continue reading this blog post for a two minute overview of the report, inclusive of:
- Summary Forecast
- Portland Industrial Market: 2017 First Quarter Key Statistics
- Average Asking Lease Rates In Portland Area Market
- Average Asking Sale Rates In Portland Area Market
- Capacity Commercial Group Overview
Capacity Commercial Group: Summary Forecast
The First Quarter of 2017 started the year off slower than expected but the Portland and SW Washington markets continued to perform as they had in the previous quarter. Vacancy remained steady, demand was consistent, but not at the levels we anticipated, and development activity was full steam ahead. As the close-in areas “build and fill,” the outlying areas of Portland will continue to feel closer than they ever have before.
Portland Industrial Market: Third Quarter Key Statistics
Vacancy rates are at an all-time low, ranging from 3.5% – 3.9%.
- Development activity is strong with over 2.11MM SF of space under various stages of construction and another 2.0MM SF planned for late 2017 into 2018.
- Over 2MM SF of active users are currently in the market. Including 1MM SF dedicated solely to an Amazon build to suit in Troutdale.
Average Asking Lease Rates in the Portland Area
- Rivergate $.40 – $.43/SF
Airport Way & East Columbia Corridor $.43 – $.50/SF
Southeast (Clackamas/Milwaukie) $.42 – $.45/SF
NW / NE / SE Close In $.50 – $.75/SF
Southwest & West Side $.42 – $.55/SF
Tigard / Tualatin / Wilsonville $.43 – $.60/SF
Clark County (Vancouver, WA) $.45 – $.55/SF
Average Asking Sale Prices in the Portland Area
5,000-15,000 SF $95-$160/SF
16,000-30,000 SF $90-$125/SF
31,000-60,000 SF $85-$115/SF
60,000 SF & Up $75-$110/SF
About Capacity Commercial Group
With over 22 active Brokers and more individual memberships within the SIOR organization, Capacity Commercial Group combines local market experience with industry expertise to provide the best information to our clients so they can make informed decisions.