Portland’s Office Market Still Struggling for Direction, Even As Payrolls Grow

Office market fundamentals in Portland, Oregon, remain shaky as of the third quarter of 2023. Utilization patterns are still normalizing for many employers, which has resulted in more scrutiny from potential and in-place tenants when assessing space. Thus, physical decommitments continue to plague the market and availabilities remain at an all-time high of just under 16%.