Portland, OR Office Overview
The Portland market includes the Boise, Lloyd District, and Kerns submarkets. With a metropolitan population of just under 2.4 million, it’s the largest city in Oregon. Located at the junction of the Willamette and Columbia Rivers, the city is also a major shipping port. The city's excellent geography attracts a variety of businesses.
As of mid-2017, the market encompasses nearly 32 million square feet of existing office space in properties larger than 50,000 square feet. Portland has become a metropolitan business cluster for manufacturing, transportation, consumer goods, and high-tech companies, all of which create constant demand for commercial real estate.
Portland, OR Office Inventory Description
Nicknamed 'Silicon Forest', Portland is home to more than 1,000 tech companies. With an annual gross metropolitan product of nearly $150 billion, there is robust demand for office space in the metro area. Nearly 54% of the office space is Class A or A+, with Class B properties contributing another 46%.
Boise and the Lloyd District are two of the up and coming submarkets for Class A office space in the city. East the Willamette River and north of I-84, these submarkets are home to prominent properties such as The Silica, Lloyd Center Tower, and The Courtyard at One North.
Portland, OR Commercial Inventory Breakdown
Office Spaces
Total: 41,661,100 SF
By square footage range:
- 50k to 100k SF: 8,760,256 SF / 21.03% of total office
- 100k to 500k SF: 24,393,298 SF / 58.55% of total office
- 500k to 1M SF: 6,433,882 SF / 15.44% of total office
- > 1M SF: 2,073,664 SF / 4.98% of total office
By class:
- Class A+: 2,527,645 SF / 6.07% of total office
- Class A: 19,856,523 SF / 47.66% of total office
- Class B: 14,456,000 SF / 34.7% of total office
- Class C: 1,137,462 SF / 2.73% of total office
Top 10 Largest Office Buildings
in Portland
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| U.S. Bancorp Tower | 111 SW 5th Avenue, 97204 | 1,073,000 | 1973 |
| South Waterfront Campus - Collaborative Life Sciences Building & Skourtes Tower | 2730 SW Moody Avenue, 97201 | 625,000 | 2013 |
| Wells Fargo Center | 1300 SW 5th Avenue, 97201 | 611,052 | 1970 |
| 3800 SE 22nd Avenue | 3800 SE 22nd Avenue, 97202 | 586,620 | 1924 |
| Adidas Village Corporate Campus | 5055 North Greeley Avenue, 97217 | 554,000 | 2003 |
| Pacwest Center | 1211 SW Fifth Ave, 97204 | 547,992 | 1984 |
| Daimler Trucks North America - Corp 1, 8 & 9 | 4747 North Channel Avenue, 97217 | 544,850 | 1977 |
| Pacwest Center | 1211 SW 5th Avenue, 97204 | 522,161 | 1984 |
| World Trade Center | 121 SW Salmon Street, 97204 | 500,000 | 1977 |
| The Standard Insurance Center | 900 SW 5th Avenue, 97204 | 459,504 | 1968 |
Largest Office Properties Recently Completed
in Portland
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 5 MLK | 5 SE Martin Luther King Jr. Blvd, 97214 | 439,434 | 2021 |
| NIR Center | 920 SE Stark Street, 97214 | 319,474 | 2021 |
| PAE Living Building | NWC 1st Avenue & SW Pine Street, 97204 | 57,755 | 2021 |
| Canvas at Press Blocks | 1750 SW Yamhill Street, 97205 | 143,553 | 2020 |
| District Office | 525 SE Martin Luther King Jr. Blvd, 97214 | 81,500 | 2020 |
| Elks Children's Eye Clinic | 3375 SW Terwilliger Blvd, 97239 | 64,599 | 2020 |
| Downtown Rockwood - Building A | 18535 SE Stark Street, 97233 | 53,038 | 2020 |
| Tree Farm | 850 SE 3rd Avenue, 97214 | 41,450 | 2020 |
| OHSU Center for Health and Healing South | 3485 SW Bond Avenue, 97239 | 397,099 | 2019 |
| 7 Southeast Stark | 7 SE Stark Street, 97214 | 78,298 | 2019 |
Portland, OR Green Office Space
Portland is known as one of the most environmentally friendly cities in the world, so it's no surprise that the 2017 National Green Building Adoption Index ranked Portland 16th out of the top 30 major U.S. markets for green energy buildings. Nearly 4% of the office buildings larger than 50,000 square feet in Portland are LEED-Certified, while over 6% are Energy Star-rated, and nearly 10% are otherwise certified green buildings.
The U.S. Bancorp Tower on SW 5th Avenue in Downtown Portland is a great example, and is proudly LEED-Certified Silver. Built in 1973, the 42-story Tower has over 1 million square feet of office space with retail on the first floor.
Over the years, the percentage of green and energy-efficient buildings in the U.S. has steadily grown. In 2005, the percentage of green certified buildings was less than 5% compared to today's share of 38%.
Portland, OR's Top Office-Using Sectors
Portland benefits from the city's energy and resources, strategic geographic location, and integrated transportation network. The high-tech, manufacturing, transportation, and corporate headquarters draw talent to the area.
- High-Technology – Intel, Network Computing Devices, CollegeNET, OpConnect Electric Vehicle Charging System, and EcoZoom.
- Manufacturing – Schnitzer Steel Industries, Oregon Steel Mills, ESCO Corporation, Nike, Adidas, and Hi-Tec Sports.
- Transportation – The Port of Portland is the third largest on the west coast, with Daimler Trucks North America, Consolidated Freightways, Columbia River Shipbuilding Company, and SeaPort Airlines.
- Corporate Offices – Umpqua Holdings, Wieden+Kennedy, Fred Meyer, New Seasons, and Laika.
Frequently Asked Questions
How much does office space cost in Portland, OR?
The average office rental rate in Portland, OR is $24.26 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Portland Office Market Trends for more stats.
What is the size of available office spaces in Portland, OR?
The Portland, OR office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 82,887 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Portland, OR is 120 square feet, while the maximum rentable space on the market now is 165,653 square feet.
How do I get office space in Portland, OR?
Start your search for office space in Portland, OR by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Portland, OR?
There are 631 office listings on the Portland, OR market. See all available office spaces for rent.
Where to rent an office space in Portland, OR?
Popular Portland neighbourhoods with available office spaces include Neighbors West Northwest Portland, Downtown Portland and Southeast Uplift Neighborhood.
What other property types are available for lease in Portland, OR?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Portland Demographics
Population
- Total Population645,291
- Male Population(49.6 %) 319,869
- Female Population(50.4 %) 325,422
- Median Age37.10
Income/Financial
- Average Household Income$96,000
- Median Household Income$71,005
- Median Income Under 25$32,330
- Median Income 25-44$80,048
- Median Income 45-64$77,877
- Median Income Over 65$50,013
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