Thursday, November 15, 2012

Colliers: Portland office, industrial vacancies among tightest in U.S. - Portland Business Journal

Colliers: Portland office, industrial vacancies among tightest in U.S. - Portland Business Journal



Business Journal staff writer-Portland Business Journal
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Portland’s downtown office space tends to attract all the attention, but by one measure, suburban office space is doing just fine.
Portland has one of the tightest office space markets both in downtown and the suburbs, according to a quarterly ranking by Colliers International. For good measure, Colliers notes Portland ranks among the top markets for industrial occupancy rates as well.
For downtown office space, Portland ranks seventh in the nation with an overall vacancy rate of 9.39 percent. Coincidentally, it ranks seventh in the nation for suburban office markets too, with a vacancy rate of 11.6 percent.
Raleigh/Durham/Chapel Hill, N.C. has the tightest downtown market in the nation at 6.5 percent. Dallas/Fort Worth, Texas trails at 23.8 percent.
The national average is 12.58 percent.
Bakersfield, Calif. boasts the tightest suburban market in the country at 6.43 percent, while Las Vegas trails the pack at 25.62 percent. Nationally, the average suburban office vacancy rate is 14.99 percent.
Portland ranks 13th for industrial space at 7.29 percent. Honolulu, Hawaii has the tightest market at 4.27 percent. Boston trails at 16.99 percent.