In the News
July 03, 2014
Rents jumped 11 percent last year and are expected to keep rising
Portland Business Journal
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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.
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