Portland may see more of its manufacturing companies head to the suburbs, as commercial rents continue to rise. With a strong economy, manufacturers have seen exponential growth, causing them to expand in order to meet the growing sales demands. As they have continued grow, so too have the commercial rents, putting pressure on the manufacturers in Portland to find cheaper locations.
Portland is not the only city to see commercial rents rise, as most of the areas in Portland Metro have increased. In some areas, the price of commercial space has risen over 50% since the reductions taken during the 2010-2014 economic downturn.
These increases have seemed to especially hit food and wood product manufacturers hard, as Oregon Manufacturing Extension Partnership Vice President, Mike Vanier, noted that,”We are aware of a handful of companies that are investigating leaving Portland for the suburbs because of cheaper rents.”
Which Portland companies do you think would most likely make the move to the suburbs should rent get to be too high?