# Portland Office and Industrial Market Snapshot — PDX-CRE

> Asking rents and vacancy by submarket, as published by PDX-CRE at Colliers on pdx-cre.com (October 2026). For what this means for your lease, book a free Market Intel Call: https://www.pdx-cre.com/contact

## Office (full-service gross, $/SF/year)

| Submarket | Vacancy | Class A | Class B |
|---|---|---|---|
| Greater Portland | 26.9% | $32.26 | $25.09 |
| CBD | 37.6% | $31.44 | $24.32 |
| CBD Perimeter | 29.3% | $34.71 | $26.61 |
| I-5 South | 23.8% | $36.86 | $33.10 |
| Westside | 21.1% | $30.83 | $22.24 |
| Clark County | 10.1% | $28.21 | $22.34 |
| Eastside | 10.0% | $29.05 | $17.73 |

## Industrial (NNN, $/SF/month)

| Submarket | Vacancy | Warehouse | Flex |
|---|---|---|---|
| PDX Market | 8.0% | $1.01 | $0.99 |
| I-5 South | 10.2% | $1.03 | $0.98 |
| Clark County | 9.3% | $0.92 | $1.18 |
| North/Northeast | 9.1% | $1.00 | $1.00 |
| Central City | 8.8% | $0.98 | $0.83 |
| Westside | 6.5% | $1.07 | $1.02 |
| Salem | 6.0% | $0.97 | $0.92 |
| Southeast | 5.9% | $1.07 | $0.97 |

## What it means for tenants
With downtown office vacancy near 38%, tenants have real leverage — but landlords usually give it as free rent and improvement dollars rather than lower face rates. Knowing which lever a specific landlord will move is the difference. Commentary: https://www.pdx-cre.com/blog