Portland Retail Figures Q2 2026

— The Portland retail market closed Q2 2026 with an availability rate of 4.9%. The overall availability rate was unchanged from Q1 2026.

— The total retail sq. ft. absorbed in Q2 2026 was positive 3,000 square feet (sq. ft.), compared to negative 37,000 sq. ft. in Q1 2026.

— The largest lease of the second quarter was signed by AutoZone, taking 60,323, sq. ft. at Vancouver Plaza, establishing a hub-format store to serve expanded product distribution and delivery capabilities.

— The overall average net asking rent for Portland retail space closed Q2 2026 at $23.78 per sq. ft., a decrease of $0.65 from Q1 2026.

— While the market-wide average remained below previous-quarter levels, select high-demand retail corridors continue to command significantly higher rents. In downtown Portland, asking rates along prominent streets such as NW 23rd Avenue can reach $55.00 per sq. ft., while well-positioned suburban retail centers are achieving rents in the $35.00 to $45.00 per sq. ft. range.

— The total retail investment sales in Q2 2026 amounted to $63.1 million in total volume, compared to $65.4 million in Q1 2026.