Wyse Real Estate Advisors

04/14/2026

The Portland retail market ended the first quarter with reduced momentum and rising vacancy. While suburban areas have fared better than urban submarkets, the overall forecast remains subdued, with limited new supply and increased move-out activity expected to constrain growth until 2027.

Return-to-office continues to be slow and inconsistent among large employers in Portland, keeping vacancy rates high despite the record-low new supply. Asking rents have not increased over the past year and while there is more movement outside of the Central Business District with suburban demand, Costar’s forecast leans to the downside.

The industrial market has experienced the sharpest vacancy expansion in the past decade after two years of weak tenant demand and some new construction. The market is not heavily oversupplied, however deliveries in the pipeline combined with slow leasing could maintain an availability rate above the national average until the peak, which is expected in late 2026.

01/13/2026

The Portland retail leasing market ended 2025 with hampered momentum. The lower Tenant demand is a result of economic uncertainty, and while the market maintained relative stability with demolition and lack of new construction on the supply side, vacancy has increased over the past 12 months. Suburban areas outperformed urban submarkets. CoStar’s forecasts project rising retail vacancy and declining rents in the near term.

Risk remains in the office market heading into 2026. Hiring trends in the traditional office-using sectors have slowed, and there have been cuts at major regional employers like Nike and Intel. Trophy assets continue to perform well, driven by downsizing and flight to quality. Asking rents increased 0.3% in 2025, trailing the decade average of 2.5% per year. It is anticipated that vacancies will continue to rise slightly and peak near 16% by year-end 2026.

The industrial market in Portland has faced weaker tenant demand over the past two years, with regional vacancy expansion now at 7.5%, which is 1.1% above the all-time average. Across Portland, 4.2 million SF is under construction, which is 1.6% of the total existing inventory. Annual rent growth has slowed to 1.2% as of Q1 2026. The CoStar forecast for this market projects that vacancies peak below 8% by late 2026 and while demand may improve by 2027, it is dependent on improving small business activity and labor markets.

12/31/2025

Closing out 2025 with gratitude. Thank you to our incredible clients and vendor partners for a year of strong collaboration and shared success. We're proud of what we accomplished together and look forward to what's next.

In celebration of the transition to a new year, the Wyse office will be closed from noon, December 31st, 2025 through end of day Thursday, January 1st, 2026 and will reopen on Friday, January 2nd. Best wishes to all in 2026!

11/27/2025

10/20/2025

Portland retail space markets ended Q3 in a balanced manner. Move-out activity is now 22% below the pandemic-era peak and 15% below the historical average and a combination of slow construction and increased demolition have helped keep demand level with available supply. Forecasts for the region remain conservative due to slow population growth and tariff-related consumer spending concerns.

Office vacancy in Portland is trending to 15.22% as of the end of 2025, compared to the national vacancy rate of 14.08%. The return to in-office has not occurred at scale. Downsizing and the flight to quality have meant that occupancy in Class-A and trophy developments has been at the expense of lower-tier assets. Sublease availability has declined, however the overall availability rate has risen to 17.1%, which suggests that larger sublet listings have expired and are now available for direct lease. Better performing areas include neighboring suburban markets in Washington State. Remote work, tariff-related cost increases, and local political factors contribute to forecasts for recovery being years away.

The industrial market in Portland has experienced a sharp increase in vacancy as a result of weakened tenant demand and stalled space commitments as businesses evaluate the impact of tariffs. Asking rents are not expected to increase, however, the lack of new construction should cushion rents from drastic declines. CoStar’s data and projections suggest that vacancies will peak by early 2026.

Data Source: CoStar

09/01/2025

In observance of the Labor Day holiday, Wyse is closed Monday, September 1, 2025 and will reopen at 8:30am on Tuesday, September 2nd. Happy Labor Day!

07/29/2025

The retail market in Portland continues to maintain a balanced state, with slow demand formation countered by minimal new construction and low tenant move-outs. The demand for apartments has led to the demolition of nearly 1 million square feet of retail space since 2020. Sales forecasts are cautious as regional population growth trends are mostly stagnant, which has lessened the growth of asking rents. Additionally, tariffs and the potential for more inflation could raise concerns for retailers considering expansions.

The Portland office market remains caught in a challenging period. Absorption has been negative in seven of the last ten quarters, with cumulative losses of -1.6 million square feet over the past 12 months. Given the current demand indicators, Portland is unlikely to see speculative supply anytime soon.

As for the industrial sector, vacancies have experienced the sharpest expansion in ten years within the Portland metro area. With weakened tenant demand, there will not be much opportunity to ask for higher rents in the near term. Portland taxes have driven many businesses across the Columbia River to Vancouver, Washington submarkets. The uncertainty surrounding trade and tariffs is also slowing space commitments this year.

07/25/2025

We are proud to share that for our “B-Day”, Wyse Real Estate Advisors has successfully completed our first B Corp recertification! This milestone reaffirms our commitment to using business as a force for good, balancing purpose and profit in decisions we make.

B Corp Certification is a designation that a business is meeting high standards of verified performance, accountability, and transparency, from employee benefits and charitable giving to supply chain practices and input materials. Because B Corps are required to recertify every three years, they must focus on continuous improvement to ensure long-term resiliency.

For recertification in 2025, businesses must demonstrate high social and environmental performance with a verified B Impact Assessment score of 80 or above and pass a risk review. In 2026, B Lab will implement new standards encompassing seven impact topics, replacing the 80-point scoring system.

Based on the B Impact Assessment, Wyse earned an overall score of 87.2, an increase from 81.3 in 2022. For context, the median score for ordinary businesses who complete the assessment is currently 50.9.

As we celebrate this achievement, we are also looking ahead to the future of B Corp standards. For us, that means strengthening our involvement and impact in our communities.

07/04/2025

The Wyse office is closed Friday, July 4th in observance of the Independence Day Holiday and will reopen at 8:30am on Monday the 7th. Wishing a warm and relaxing long weekend to all!

06/23/2025

For the third year in a row, Wyse Real Estate Advisors is pleased to be a 2025 qualifying nominee for the Portland Business Journal's Best Places to Work in the Small Companies (10-24 employees) category.

On Aug. 27, employers in Oregon and Southwest Washington will earn the honor of becoming the best workplaces in three size categories.

06/19/2025

In observance of the Juneteenth Holiday, the Wyse office is closed Thursday, June 19th, 2025 and will reopen at 8:30am on Friday, June 20th.

04/16/2025

We are celebrating seven years with Traci Twitchell today. Traci has over 25 years of experience managing commercial properties with a focus on industrial assets. She serves as Principal Broker for our firm for Oregon and became a shareholder at Wyse in 2024. Traci currently serves as Regional Vice President with IREM. Happy Wyse Anniversary, Traci!