The overall vacancy rate for Portland office was stable even with new construction delivering emphasizing the position of the market and continuous demand for space.
The bulk of the vacancy decrease was due to deals signed in the Eastside submarket, contributing to the 151,427 sq. ft. of positive net absorption.
The market delivered two projects in Q2 2018. The 165,65-sq.-ft. Field Office project and the 60,152-sq.-ft. Heartline building. Both projects were located in the Northwest submarket and were 50% preleased.