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2022 Q1 Portland Metro Industrial Market Report

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During the first quarter of 2022, the Portland Industrial market saw only 365,200 square feet of net absorption, despite a need for more industrial assets. This need continues to be driven by Warehouse-Distribution product as supply chain challenges reveal a need to keep more safety stock closer to consumer. The proximity of safety stock is critical as companies look to meet expectations of consumers who adopted DTC and e-commerce buying habits during the COVID-19 pandemic. Separate from Manufacturing and Flex product, Warehouse-Distribution accounted for 620,710 square feet of net absorption during the quarter while Manufacturing and Flex contributed -268,337 square feet and 13,827 square feet respectively towards the market’s overall net absorption. Lack of supply continues to be a challenge in the industrial market with only 4% of the market available and 3.8% vacant. Among institutional Class A bulk product, only 3.3% is vacant and available. Developers have taken notice of this need, increasing investment in the Portland market. As of Q1, there were more than 8 million square feet of industrial assets under construction. This volume of investment may provide relief for the existing need as these buildings begin to deliver.


2022 Q1 Portland Metro Industrial Market Report

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Jamison Shields

Research Analyst


Jamison Shields joins the Colliers team after working for a boutique student housing developer providing asset management and development services. Responsible for research efforts out of the Portland office, related to office, industrial, multifamily and retail asset types. Jamison works to collect, analyze and synthesize market data for the local commercial real estate market. He provides pitch support, innovative GIS dashboards, and client-specific reporting. 

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