While many city suburbs garner less-than-desirable reputations among young workers, Beaverton stands its ground against neighboring Portland. Ranked by Money Magazine as the ninth best small city in America, Beaverton is an attractive alternative to Portland for its more affordable cost of living, its thriving job market, and diversity. The magazine shared its opinion, claiming: ‘Portland may be the top foodie hub in this neck of the country, but private chef and sommelier Tân Huynh says that Beaverton is a worthy culinary contender. “You have so many ethnic populations here,” says Huynh, a lifelong resident. “With that comes culture—and restaurants.”’
Unlike Portland, Beaverton is lauded for its diversity. Twenty percent of Beaverton’s population originates from a country outside of the United States, the city’s cuisine shows representation from around the globe, and dozens of languages are spoken in Beaverton’s public schools.
Beaverton offers more than a financial advantage for companies. The location provides an opportunity to draw from diverse talent and be immersed in a cross-cultural city. If you’re considering Beaverton office space for rent, here’s everything you need to know about this Portland alternative.
Beaverton Office Space | Lease Data & Trends
Affordable office rent costs drive many companies to seek office space in Beaverton. Across building classes, the average asking rent for Beaverton office space is just under $25 per square foot. This market average represents significant cost savings compared to parts of Portland’s urban core, where rents average closer to $36 per square foot.
Beaverton’s Class A office inventory also offers great cost-saving opportunity. The average asking rate for Class A office space in Beaverton hovers around $28 per square foot, whereas Class A properties in Downtown Portland rent for $40 per square foot or more, and office spaces in Portland’s Inner Eastside go for more than $45 dollars per square foot.
Finding office space outside of Portland in Beaverton offers another advantage: options. As its own small city, Beaverton boasts more than 4.1 million square feet of commercial office space and counting. And with a 15% vacancy rate, that means there’s plenty of available real estate for companies to choose from. Another perk? Companies in Beaverton neighbor some of Portland’s biggest companies, including: Nike. Inc., Tektronix, Inc., Reser’s Fine Food, and International Paper.
What Our Brokers Say About Beaverton Office Space for Lease
Within Beaverton’s 18.73 square miles, there’s a wealth of technology and design leaders. Nike a leader in the outdoor and athletic industries, is the city’s top employer. In Oregon alone, Nike employs over 12,000 people, and many of those employees work out of Nike’s World Headquarters in Beaverton. The company’s Beaverton World Headquarters sets an impressive precedent for modern work space in this Portland suburb. Currently under expansion, Nike World Headquarters is in the process of adding four new buildings their campus, increasing the campus footprint with “approximately 3.2 million square feet of office, mixed-use and parking facilities.” The biggest part of the expansion is The Serena Williams Building – a modern office space that will provide over 1 million square feet of corporate space, making this the largest structure at Nike’s World Campus.
While not every Beaverton office has 75 buildings and displays of historic sneakers, other notable companies in this city include: Seagate Technology, EdgeLink, Adobe, Comcast, and CyberCoders. For these businesses, and other surrounding companies, it’s typical to find their corporate office spaces in Class A and Class B office parks. Beaverton offers a variety of commercial business plazas that offer amenities such as updated conference rooms and office space, on-site gyms, nearby public transit, and affordable rent.
Getting to, From, and Around Beaverton
Companies located in Beaverton enjoy major transportation benefits, including a key advantage over Portland: ample access to parking. Companies in Northwest and Downtown Portland vie for employee parking space, as monthly parking passes are expensive and in short supply. But in Beaverton, corporate headquarters have their own parking lots, making it easy for employees to commute to work by vehicles.
For employees who prefer to rely on public transportation for their daily commute, Beaverton’s transit center serves as major commuter hub. At the transit center, locals have access to Trimet’s Red and Blue rail lines, which connect Beaverton to Portland’s city center and beyond. Multiple bus lines serve the transit center too, including Trimet lines: 20, 52, 53, 76, 78, and more.
Getting to Know Beaverton, OR
As one of Portland’s western suburbs, Beaverton has distinguished itself as a destination for cuisine, nature, and diversity. When Beaverton-based company Tektronix experienced a massive manufacturing boom in the 1970s, many Korean immigrants moved into Beaverton and the surrounding areas. As a result, Beaverton is home to K-Town, where there’s a wealth of kimchi, bibimbap, and spicy Korean food. Many of Beaverton’s Korean establishments have been around for over 20 years, consistently drawing visitors from Portland to enjoy meals in the suburbs at popular spots like Nak Won, DJK, Spring, and Waba.
Beaverton also offers residents and employees a chance to escape from the daily grind by visiting the Tualatin Hills Nature Park. Located along the city’s northern edge, the Tualatin Hills Nature Park offers over 220 acres of land filled with miles of hiking trails, bike paths, and family-friendly routes. The park is a unique urban “wildlife preserve with wetlands, forests and streams that are habitat to insects, amphibians, reptiles, birds and mammals.” The park is open to the public year-round at no cost, providing a perfect place to detox from a busy work day.
A Beaverton office offers an opportunity to be at the core of a thriving cultural and business scene. If you’re searching for affordable rent, a city with great work/life balance, and a density of talent, add Beaverton Oregon to your list of commercial areas in Portland.