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Q3 2020 Portland Metro Industrial Report

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Industrial fundamentals remained stable across the market this summer with 336K SF absorbed, reaching 1.3M YTD. Vacancy dropped 0.2% to 4.4%, which is less than the 10-year average. Given unique market dynamics, with a number of well-capitalized companies expanding as local credit companies struggle, it follows that asking rates have not shifted in the last year from around $0.80 NNN per month. The most impressive sale this quarter bodes well for Portland’s regional logistics advantage with Clarion Partners picking up PDX Logistics Center, Phase III, Buildings 4 & 5 for $170 PSF, a level not reached since 2016 Q3. 

PortlandIndustrial

Q3 2020 Portland Metro Industrial Report

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