Portland is the most populous city in the state of Oregon, and the second-most populous city in the Pacific Northwest behind Seattle. As a major port in the Willamette Valley region, Portland offers a scenic backdrop to its estimated population of 647,805 across 135 square miles.
Portland is a national hub for culture, advertising, sustainability, branding, and tech. And as a city committed to culture, creativity, inclusivity, and thoughtfulness, Portland attracts world-class talent from recent graduates and seasoned professionals alike.
With businesses ranging from sole proprietorships to multinational firms, there is office space to fit every size in Portland. Feel free to filter our real-time listings by neighborhood and number of employees, and check out the rest of our city guide for everything else you need to know about finding office space in Portland and Vancouver.
Portland Office Space | Lease Data and Trends
How much does office space in Portland cost?
The average asking rent for a Portland office space costs around $28 per square foot to lease, and units in Class A buildings rent for around $37 per square foot. In Vancouver, the cost of office space is even more affordable, with the direct average asking rent of all classes amounting to just shy of $20 a square foot.
The Portland commercial real estate is continuing to grow, in leasing activity and new construction. Much of the Portland real estate is pre-leased, meaning there won’t be a significant increase in vacancies. More than one million square feet of new office space was delivered in Portland in 2018, with major projects including the Broadway Tower and 9North which will rise in East Portland later this year.
Notable leases in 2018 included WeWork’s 70,190 square foot lease in the Power & Light Building, Vacasa leasing 60,152 square feet in the Heartline Building, and Urban Airship signing a new lease at The Brewery Blocks for 28,201 square feet.
Popular Neighborhoods to Rent Portland Office Space
Known as Portland’s Central Business District, Downtown Portland is home to the city’s widest selection of Class B office space. Framed by the river and historic buildings at every corner, Downtown Portland is a popular choice for architecture firms, financial engines, staffing agencies, and restaurateurs. Whether you’re commuting from across the water or a neighboring suburb, Downtown’s Pioneer Station conveniently connects commuters with the Red and Blue Max lines, and bus lines 1, 12, 19, and 24.
A hub for medical corporations and large region-serving facilities, the Lloyd District occupies the inner, Northeast section of Portland. The Lloyd District is currently at a crossroads: the area holds a rich amount of development potential, and city planners and architects are committed to making the Lloyd District a vital part of the city. If you’re thinking long-term, the Lloyd District is projected to be a sustainable crux of well-designed open spaces and modern office buildings. Another perk? Each major Max transit line passes through the area’s Rose Quarter Transit Center, and bus lines 4, 8, 44, 77, and 85 all serve the Lloyd District.
Portland’s Pearl District stretches from West Burnside to NW Lovejoy, and from the river to 14th Street. The Pearl is referred to as the city’s upscale business hub, as offices are surrounded by fine dining restaurants, historic theaters, and city landmarks. The Pearl is home to national advertising firms, title companies, communication firms, and co-working spaces. The District also boasts access to Portland’s hipster jewels: Powell’s Books, the Ace Hotel, and local design shops like WildFang and Frances May. Pearl District offices give employees the opportunity to enjoy a work-life balance, as a lunch shopping trip or an evening happy hour rests at every corner. The Pearl District is best visited by Portland Streetcar A Loop and the North/South line.
East Portland’s skyline is shifting: it’s rising upwards. East Portland has witnessed a boom in commercial office space, with creative mixed-use buildings quickly scaling the East riverfront. In the inner Eastside, old produce warehouses have been transformed into hip office space for start-ups, co-working suites, ad agencies, and local clothing brands. East Portland is also home to the world’s first vegan mini-mall, Distillery row, and a host of coffee roasters. If you’re searching for a warehouse-chic vibe, East Portland is the perfect place to turn century-old spaces with fresh, modern ideas. East Portland is accessible via the Portland Street Car A and B loops, and transit lines 6, 15, and 20.
Known as the Pearl District’s sibling, Northwest Portland stretches further west of the Pearl, resting between Portland’s sprawling West Hills and the neighboring Pearl and Downtown Districts. A popular choice for locals and tourists alike, Northwest Portland is a cosmopolitan area that invites visitors to shop in trendy boutiques, sample fine dining, and theater productions. Northwest Portland is a popular location to lease creative office space, as many old warehouses have been converted into minimal, creative agency spaces. This mixed-use neighborhood is pedestrian and bike friendly, as many Portlanders live and work in Northwest.
Historically a residential area, office space in Northeast Portland is on the rise. Developers are investing in the untapped commercial office space in Northeast Portland, and mixed-use buildings are being built quickly in the Mississippi and Boise-Elliot areas of Northeast Portland. Close to the Willamette River, shipping container and warehouse style spaces are being converted into office space for artists, start-ups, and tech agencies. Employees can reach Northeast Portland with the Yellow and Red Max lines.
There’s been a quiet, but steady, stream of Portland businesses that have crossed the state line and relocated to Vancouver, Washington. Vancouver’s Clark County is a highly affordably place to rent office space, and it’s a popular choice for large tech and transportation companies that are seeking traditional office complexes. If you’re looking to consolidate offices and move into a spacious headquarters, consider Vancouver office listings.
Not sure about the differences between Class A and Class B office spaces? What about triple net leases and tenant improvement allowance? Check out our Leasopedia and Types of Office Space guide for more about the office space leasing process.
Getting to, From, and Around Portland, OR
A core advantage of having an office in Portland or Vancouver is access to hundreds of thousands of talented employees, thanks to the city’s vast and robust transit system. With an ever-expanding light rail and streetcar system, the city is actively working to create greater job densities around major transit station areas.
In Portland, the web of streetcars, buses, and bike paths cover hundreds of miles and allow for thousands of commuters to reach Portland’s commercial neighborhoods without driving. Portland boasts the nation’s highest percentage of bike commuters, at 7.2%, which means over 17,000 workers commute by bike. With 188 miles of bike lanes, employers have the advantage of recruiting from nearby neighborhoods, local colleges, and even neighboring suburbs.The city’s highly rated international airport, PDX, also makes life easier for consultants and remote workers who are required to travel into the city. TriMet’s Red Line ushers visitors straight from the airport to Downtown Portland in under 35 minutes.