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Economic News

Portland is No. 1 market for development opportunities

November 06,2019 | By Anna Marum

Portland is the No. 1 market in the U.S. for development potential, according to the Urban Land Institute's 2020 Emerging Trends in Real Estate report. Greater Portland beat out Nashville, Austin, Charlotte and every other city in the nation for its ample opportunity for development and redevelopment. The report notes that Portland "clearly surpasses the threshold requirements for large investors, with an office inventory exceeding 60 million square feet and industrial assets of more than 210 million square feet, and a metro population of 2.5 million."

Commercial real estate firm JLL notes that the introduction of Opportunity Zones covering the majority of Portland's CBD have contributed to this uplift in sentiment. According to JLL, "this developer sentiment is evidenced by the current construction cycle delivering 3.8 million square feet of new and redeveloped office to the urban core over the past 5 years and another 1.675 million square feet currently under construction/renovation."

Read more here.

Learn more about commercial real estate in Greater Portland here, or contact our business development team directly.

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