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July 03, 2014

Rents jumped 11 percent last year and are expected to keep rising

Portland Business Journal

Alli Pyrah

Average rents in the Portland area rose 11 percent last year and are expected to continue to escalate, according to a report by commercial real estate firm Kidder Mathews.

The average rent is now $1.16 per sq ft, with downtown Portland reaching an average $1.93 per sq ft.

"Rental rates are expected to continue to escalate over the next year, though the general consensus based on market participant interviews is that there is not a lot of room for additional rental rate growth," said the report. It predicted that continued growth in net operating income (NOI) will come at least in part from putting bill-back programs in place and eliminating tenant incentive concessions.

For the full story, go to Portland Business Journal.

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