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2017 CBD office sales top $1 Billion for first time/599/portland-1-16-18-cbd-office-sales<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-moderncity.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/599/portland-1-16-18-cbd-office-sales2017 CBD office sales top $1 Billion for first timeInstitutional buyers continued to show love for Portland’s office market throughout 2017 where total sales volume topped $1.29 billion.
Oregon is the nation’s #2 ‘Top Moving Destination’/578/portland-1-8-18-top-moving-destination<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-moving-truck.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/578/portland-1-8-18-top-moving-destinationOregon is the nation’s #2 ‘Top Moving Destination’​Yet again Oregon ranked in the top 3 of United Van Lines Movers Study. After 3 years in a row of Oregon being the ‘Top Moving Destination’, Oregon dropped to #3 in 2016 losing out to South Dakota and Vermont.
Portland poised to add significantly more coworking space in 2018/562/portland-12-18-17-adding-coworking-space<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/interior-office-cubes-birdseye-view.png?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/562/portland-12-18-17-adding-coworking-spacePortland poised to add significantly more coworking space in 2018​Portland’s flexible office, or coworking, inventory has grown exponentially in the past 5 years, and grew by more than 50 percent in the past 2 years alone.
Concessions are increasing – eating into landlord net effective rents/544/portland-12-11-17<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-blue-sky-office-exterior.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/544/portland-12-11-17Concessions are increasing – eating into landlord net effective rents​Between 2015 and 2016 Portland landlord net effective rents (landlord net effective rents include TI’s and free rent as part of calculation) climbed 18.9 percent while average asking rents climbed 7.9 percent, highlighting a landlord favorable market.
TI allowances increasing, up more than 20 percent since 2015/524/portland-12-4-17-ti-allowances-increasing<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/construction-site-cranes.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/524/portland-12-4-17-ti-allowances-increasingTI allowances increasing, up more than 20 percent since 2015Office construction has ramped up significantly in 2016 and 2017, reaching a cyclical high of nearly 2 million square feet in Q2 of 2017, prompting a surge in employment within the construction sector.
Portland’s rising cost of construction/503/portland-11-27-17-rising-cost-of-construction<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/construction-site-cranes-clouds.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/503/portland-11-27-17-rising-cost-of-constructionPortland’s rising cost of construction​In October we put together a snapshot of the leading sectors pushing Portland’s employment growth.