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2021 Q3 Portland Metro Office Market Report

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Bright spots continued to emerge in parts of Portland this quarter, suggesting a complicated answer to the question: “When will Portland recover?” Known as the economic engine of Oregon, Washington County, home to Nike and Intel, has the right kind of companies to respond to the current economic climate: high tech manufacturing and active apparel. Identification software company Q5id and digital display manufacturing company Planar subleased or leased large swaths of space in Hillsboro this quarter, nearly 150,000 square feet. There has not been any noticeable activity on the sales or leasing front downtown Portland. This continues to soften Class A asking rents, which are down 5.9% from last year in the CBD, or $36.04 per square foot full service.

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2021 Q3 Portland Metro Office Market Report

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Jacob Pavlik

Research Manager

Seattle

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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