Portland’s Industrial Rent Growth Holds Steady Despite Speculative Construction

A recent uptick in speculative construction has not knocked Portland, Oregon's industrial rents off their upward trajectory. Property owners and managers appear undeterred in their appetites for outsize rental rates, as asking rents continue their march toward the $10-per-square-foot mark. As of the first quarter 2021, rents are posted at a decade-high $9.88 per square foot, which is 80 cents per square foot higher than the national average.