Portland Industrial Market Overview_Q1 2021

2020 OVERVIEW

2020 Overview

Construction

2.32MSF Completed in 2020

Inventory 209.7 MSF

Q4 2020 Vacancy 4.1%

Highlights Blue Lake Corporate Park

463,500

Portside Logistics Park

289,787

Absorption -628,253 SF

Cipole Industrial Park

235,050

-2,045,737

Sandy Blvd Industrial Park

110,525

Prologis PDX 23

156,900

Completed 2,323,977 SF

Prologis Meadows

148,060

Ridgefield Commerce Center

117,145

Mason Industrial Park

101,475

Imperial Industrial Park

81,930

Asking Rates

Pinefarm Business Center

57,304 Total 1,761,676

14.9% Growth in asking rates over 5 years

2021 Est. Completions Bridge Point I-5

677,033

Tualatin-Sherwood Corporate Park

262,732

Big River Logistics

192,577

Vancouver Logistics

170,089 Total 1,302,431

Sales The Cubes at Troutdale

$61M - $174.75/SF

Rivergate Logistics Center

$39M - $146.00/SF

Portfolio (Prologis)

$32M - $170.00/SF

PDX Logistics III

$43.5M - $169.00/SF

Portland Portal II

$46.8M - $130.00/SF

Portside Industrial Park

$36.9M - $127.40/SF

Portland Portal II

$17.5M - $137.45/SF

Portland Distribution Center

$14.5M - $118.08/SF

Leases

Bob’s Red Mill 520,097 SF

Hawthorne Hydroponics 226,960 SF

Cascades Tissue Group 225,250 SF

Core-Mark

Javelin Logistics 123,114 SF

243,008 SF

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