Portland, Oregon, Office Leasing Trends Mixed at Midyear Mark

Office market challenges in Portland, Oregon, continue into the third quarter of 2024 despite several notable deals pushing both volume and average lease size past 2023’s first-half performance. Stricter return-to-office requirements driven by some of the market’s largest occupiers indicate that per-worker demand may still be resetting. Still, heavy scrutiny from potential and in-place tenants regarding space expansions or renewals remains prominently entrenched.