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Tech industry boosts Portland rent, job growth

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Must Reads
Monday, August 18, 2014

Tech jobs account for 12.6% of all new office jobs in a two-year period; high-tech companies account for 20% of major leasing activity in the United States in 2014.

Tech employment has played a major role in the recovery of the U.S. office market as a whole, according to the report from real estate firm CBRE Inc.

“Along with the rest of the U.S., Portland is also experiencing strong growth from the tech sector," said Ajay Malhotra, vice president, technology and media practice for CBRE Portland.

"This is being driven by a combination of organic growth through thriving local startups as well as significant inbound expansion from Bay Area and New York tech brands, who find Portland's economics, talent and quality of life irresistible. These forces have combined to help bring Portland vacancy and lease rates back to pre-recession levels."

Read more at Portland Business Journal

 

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