Portland’s Office Shakeup: Vacancy Hits 26% in Q2 | Your Real Estate Resource for Advice, Tips and Trends.

Portland office vacancy rose to 25.9% in Q2, up 270 basis points year-over-year.

Tenants returned 761K SF YTD, with more significant move-outs expected in Q3.

Q2 leasing volume jumped 158K SF to 780K, but deal counts dropped, bigger deals won.

Class B spaces led leasing with 410K SF, as tenants seek value and quality.

Mid-sized (10K–50K SF) deal activity doubled, signaling tenant focus on flexible, efficient spaces.