#1,692 - Portland office vacancies will get much worse before they get better - here’s why!

More than a fifth of the office space in downtown Portland was vacant in the first quarter of the year, according to the latest data from commercial real estate firm CoStar. That’s double the vacancy rate in 2019, and the number of empty offices is continuing to rise.

Vacancies are up sharply across the broader metro area, too, but the overall vacancy rate is just around 12%, according to CoStar.

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