Market Report
Portland Retail Market Report
3Q 2026
Demand for Space Improving in Areas
of Residential Growth and Traffic Density
CBD begins to show signs of retail recovery. While store closures have exceeded move-ins across the metro over the past three and a half years, net absorption is returning in key submarkets. More than 80,000 square feet was absorbed on net in the central business district between April and June, pushing vacancy down to 7.4 percent, tying a three-year low. While U.S. Bank’s Bancorp Tower exit highlights some downtown office move-outs, a new incubator lease in the same building is just one example of how limited new demand is taking shape. Chamber of Commerce data also points to improving resident and visitor foot traffic in the core, benefiting retailers.
TO READ THE FULL ARTICLE
