• The Portland industrial market has continued to perform with little-to-no change from pre-pandemic environments, maintaining a strong average quarterly absorption and growing lease rates.

 

  • The scarcity of space and significant lease rate growth over the next 12 to 24 months will continue to increase competition for prime spaces in highly desired submarkets.

 

  • The industrial availability rate decreased to 5.8% and sublease availabilities have had little change, even amidst national economic uncertainty.

 

  • This strong absorption quarter was led by the Northeast submarket and is largely due to the delivery of the Bridge Point I-5 development, whose 437,516 sq. ft. Building B was fully preleased.