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2021 Q2 Portland Metro Industrial Market Report

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Small to mid-sized users across Portland’s industrial market emerged this quarter with increased confidence in the economy. Needing more stability to make leasing decisions than large users, who have more capital to weather uncertain times, these end-users are beginning to sign leases for space that will occupy later this year and early 2022. Low-interest rates are also encouraging owner-user deals, as operators look to maximize the value of real estate. For example, Composites One, a composites materials distributor, built a 72,000 square foot warehouse in Clark County and is offering a portion of the space they will not need to a tenant. At the larger end of the spectrum, e-commerce drives demand that close-in submarkets cannot fulfill, meaning Portland continues to expand south toward Salem and north toward Seattle, where more land is available for development. As available space dwindles throughout the next six to twelve months, rents will continue to push upwards, creating value for owners in the market and challenges for companies looking to take space.

PortlandIndustrial

2021 Q2 Portland Metro Industrial Market Report

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Jacob Pavlik

Research Manager

Portland

Jacob Pavlik joins the Colliers team after working in the Economic Development and Planning departments for the cities of Hillsboro, Oregon and Alexandria, Virginia, respectively.  At Colliers, he leads a team of researchers to  collect, analyze, and synthesize market data for Puget Sound and Portland. He loves the challenge of taking complex data and making it easily digestible for a wide audience. He assists brokers with research specific to their client's needs, including geovisualizatoin and micromarket analysis.

His authentic passion for commercial real estate is seen most clearly when Jacob explores his local urban ecosystem and travels to new cities around the world to see how they function and relate to each other. He likes to see the built environment adapt to the changing needs, desires, and behaviors of the people who populate it. These functions fit perfectly into Jacob's role as Research Manager, telling the story of how commercial real estate in the Pacific Northwest evolves over time.

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