Portland, OR – May 22, 2025 – The office vacancy rate in Portland has increased to 35% in the first quarter of 2025, according to recent data. This represents a significant rise from previous quarters and highlights the challenges facing the city’s commercial real estate market.
The high vacancy rate is attributed to various factors, including the shift towards remote work, increased competition for office space, and changes in consumer behavior. As a result, landlords and property managers are struggling to find suitable tenants, leading to a surge in vacancies.
The data also suggests that Portland’s office market is becoming increasingly competitive, with more properties being developed or renovated to cater to the growing demand for flexible and adaptable workspaces.
Source: https://www.axios.com/local/portland/2025/05/22/portland-s-office-vacancy-climbs-to-35-in-q1