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Seattle & Northwest  + Portland  + Healthcare  | 

Insights from CBRE’s H1 2023 Portland Medical Office Report

According to CBRE’s H1-2023 Portland Medical Office Trends showing an overall vacancy rate in the Portland medical office market stands at 4.9%, 30 basis points below the 10-year average.

At H1 2023, the medical office market continues to experience robust demand, with healthcare tenants committed to their leases and locations. While the flight-to-quality trend is dominant in the traditional office market as employers and tenants seek our new space in amenity-rich and updated properties, relocating within the medical office market poses significant financial and construction challenges.

Practices and providers are closely tied to their location and are hesitant to move more than two miles away due to negatively impacting or potentially losing their patient base. Overall, sales momentum slowed, totaling $16 million in sales volume, down from $91 million in H1 2022.


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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.