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Industrial Forecast: Demand to Remain Strong

PORTLAND, OR-The overall industrial vacancy rate here, which fell from 8.8% to 7% in 2005, is expected to fall another 150 basis points as demand continues to outpace new construction.

By Brian K. Miller | Updated on January 17, 2006

(To read more on the industrial market, click here.)

PORTLAND, OR-Coming off a strong 2005, the industrial market in Portland will continue to show improvement throughout 2006, according to local market forecast from Grubb & Ellis. The overall industrial vacancy rate here, which fell from 8.8% to 7% in 2005, is expected to hit 5.4% by the end of 2006.

Vacancy in the R&D/flex, which was hardest hit in 2002 and 2003, fell from 11.6% to 10.5% in 2005 and will fall more precipitously in 2006, hitting 8.2% by the end of the year, according to the G&E forecast. Warehouse and distribution space, which fell from 7.9% to 5.9% in 2005, will end 2006 at 4.5%, according to the report.

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