NEWS
Portland commercial real estate updates from Matt Lyman—clear, data-driven takes on the market across industrial, office, retail, and flex. Posts cover submarket shifts, rent and pricing trends, vacancy and absorption, new deliveries and lease-up momentum, availability highlights, capital markets and buyer sentiment, and notable transactions when relevant. You’ll also find practical guidance on renewals, relocations, lease negotiations, and value drivers that matter to owners, tenants, and investors—written to help you make better decisions and move faster in a changing market.
Oregon JOBS Act: What 373 Acres of New Industrial Land Near Hillsboro Means for Portland’s Commercial Real Estate Market
Oregon lawmakers are pushing to add 373 acres of build-ready industrial land near Hillsboro for semiconductor and advanced manufacturing. Here’s what the Oregon JOBS Act means for Portland’s commercial real estate market.
Portland’s Largest Office Buildings Have Lost $2 Billion in Value. Here’s What It Means.
Portland’s 20 largest office buildings have lost nearly 70% of their combined market value since 2019. Here’s what the $2 billion decline means for tenants, landlords, and investors — and why the current market may represent both the biggest risk and the biggest opportunity in a generation.
How Portland Landlords Should Position Vacant Office Space in 2026
Portland’s office vacancy rate hit record highs heading into 2026. Here’s what landlords need to change about their leasing strategy — from concession packages to spec suites — to compete for the tenants who are actively looking.
How Interest Rates, Tariffs, and Job Losses Are Shaping Portland's Commercial Real Estate Market in 2026
Rising interest rates, tariffs on construction materials, and Portland’s lagging job market are reshaping commercial real estate decisions in 2026. Here’s what tenants, landlords, and investors need to know.
Lloyd Center Redevelopment: What 7 Million Square Feet of Mixed-Use Means for Portland’s Lloyd District
Lloyd Center’s 29.3-acre site will become up to 7 million square feet of mixed-use development. Here’s what the master plan means for tenants, landlords, and investors in Portland’s Lloyd District.
Five Oak Building Sold: What $125 Million in Downtown Portland Investment Signals for the Market
Jeff Swickard’s purchase of the Five Oak Building brings his downtown Portland investments to $125 million in under a year. Here’s what this deal signals for tenants, landlords, and investors.
How to Negotiate a Commercial Lease Renewal in Portland
How to negotiate a commercial lease renewal in Portland — the key terms to push on, five common mistakes tenants make, and a step-by-step timeline for getting better renewal terms. A practical guide from Matt Lyman at Norris & Stevens.
FEATURED LISTING: Columbia Commerce Park
Columbia Commerce Park in Portland’s Columbia Corridor offers flexible industrial space from 2,778 to 15,575 SF with grade and dock-high loading, 3-phase power, and institutional-grade management by BKM Capital Partners. Explore available suites, key features, and location advantages near I-5, I-205, and PDX.
Portland’s Columbia Corridor & Airport Way Industrial Market: 2026 Update
Portland’s Columbia Corridor and Airport Way industrial market update for 2026 — vacancy rates, lease rates, absorption data, development pipeline, and what it means for tenants and landlords. Data-driven analysis from Matt Lyman at Norris & Stevens.
CAM Charges in Portland Commercial Leases: What Tenants Need to Know
What CAM charges cover in Portland commercial leases, how they’re calculated, what should be excluded, and the key protections tenants should negotiate — including caps, audit rights, and reconciliation deadlines. A practical guide from Matt Lyman at Norris & Stevens.
How to Compare Commercial Lease Proposals in Portland
How to compare commercial lease proposals in Portland — from base rent and TI allowances to escalation clauses and non-financial terms. A practical guide to calculating total occupancy cost and choosing the right space.
How far in advance should Portland tenants start a commercial lease site search?
How far in advance should Portland tenants start a commercial lease site search? A month-by-month timeline for office, industrial, and retail tenants — from defining requirements to move-in.
Letter of Intent in Commercial Real Estate: What It Covers and Why It Matters
What a letter of intent (LOI) covers in commercial real estate, why it matters, and how Portland tenants and landlords use it to structure better deals.
Commercial Real Estate Due Diligence in Portland: What to Verify Before You Sign
A practical due diligence checklist for commercial real estate in Portland — what tenants, buyers, and landlords should verify before signing a lease or closing a deal.
Tenant Improvement Allowance in Portland: What Tenants and Landlords Need to Know
Tenant improvement allowance (TI) is a key part of Portland commercial lease negotiations. This guide explains how TI works, what tenants and landlords can expect in today’s market, and how to structure build-out costs, concessions, and lease terms to reduce upfront expenses and improve long-term value.
NNN vs Full Service Lease: The Practical Tenant Guide
If you’re touring office, retail, flex, or industrial space for lease in Portland, you’ll keep seeing two structures—NNN and full service. This guide explains the real cost and risk differences, how to compare options apples-to-apples using effective rent, and the key negotiation items (CAM definitions, caps, audit rights, base-year language, HVAC/utilities) that prevent surprises later.
Commercial Lease Renewal Strategy: How to Protect Value, Reduce Risk, and Create Leverage
Commercial lease renewals are a critical opportunity to protect property value, reduce risk, and strengthen long-term positioning. This guide breaks down proven commercial lease renewal strategies for landlords and tenants, including when to start planning, how to analyze market conditions, and key terms to negotiate for stronger leverage and better outcomes.
Portland Office Market: Q4 2025 Snapshot
Portland’s office market closed 2025 with rising vacancy and negative absorption, creating continued leverage for tenants and new challenges for landlords. With asking rents flat, limited new construction, and elevated Class A vacancy, both owners and occupiers must focus on concessions, renewal timing, and total occupancy cost. Here’s what the latest Portland office data means for lease strategy, renewals, and positioning in 2026.
FEATURED LISTING: 1644 E. Burnside.
1644 E Burnside offers a rare Central Eastside owner-user or investment opportunity with ±6,524 SF of modern creative space, secured on-site parking, and flexible CM2 zoning. Delivered vacant and positioned along a high-visibility Burnside corridor, this Portland commercial property is ideal for creative office, retail, studio, or flex users seeking immediate access to I-84, I-5, and downtown.
Q4 2025 Portland Industrial Market: What Moved, What Matters
Portland’s industrial market closed Q4 2025 with rising vacancy, negative absorption, and flat rents, signaling a period of adjustment for owners and occupiers. With new construction slowing and more space available, both landlords and tenants must focus on positioning, concessions, and renewal timing. Here’s what the latest Portland industrial market data means for leasing strategy and opportunities heading into 2026.
WHAT’S YOUR PROPERTY WORTH?
Whether you're benchmarking against recent warehouse and distribution sales, evaluating a hold-vs-sell decision, or preparing for a refinance conversation, a broker opinion of value gives you a clear, comp-based pricing range for your Airport Way or Columbia Corridor industrial property. I'll deliver a 50–80+ page report covering comparable sales, lease comps, vacancy analytics, and a pricing summary with conservative, probable, and optimistic values — at no cost and no obligation.
ARE YOU PAYING THE RIGHT LEASE RATE?
Whether you're negotiating a new warehouse lease, approaching a renewal in the Columbia Corridor, or evaluating whether your current rate reflects today's market, a lease rate analysis gives you the data to negotiate from a position of strength. I'll pull recent lease comps, concession packages, and vacancy trends for Airport Way and Columbia Corridor industrial space — so you know exactly what tenants like you are paying and where there's room to negotiate.
GET IN TOUCH
Contact Matt Lyman at Norris & Stevens about any Portland commercial real estate need—leasing, renewals, relocations, site selection, lease-up strategy, tenant/landlord representation, acquisitions, dispositions, or a quick market opinion.
Share your property type, size, location/submarket, timing, and what decision you’re trying to make, and Matt will follow up with clear next steps and relevant market context.
Coverage includes industrial, office, retail, and flex across the Portland metro—217 Corridor (Beaverton/Tigard/Tualatin), Central Eastside, Airport Way/Columbia Corridor, Clackamas, and Vancouver, WA.