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Portland Retail Market Remains Stable

PORTLAND, OR-The city's retail market is expected to remain relatively steady over the next year, says a new report published by Marcus & Millichap Real Estate Investment Brokerage Co.

By Erin Cassin | Updated on November 25, 2002

PORTLAND, OR-Portland’s retail market, which has held its own over the past year, is expected to continue its steady performance over the next 12 months, according to a recent report on the region.

The report, published by Marcus & Millichap Real Estate Investment Brokerage Co., points out that the average vacancy level for retail product here has risen only slightly this year and is not expected to jump much higher in 2003. The average vacancy rate is expected to stand at 6.5% by the end of 2002, just one percentage point higher than year-end 2001. Vacancy will continue to edge up over the next 12 months, which will raise the average to around 7% in 2003.

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