Episode Details

Portland’s downtown is drowning in vacant office space—ten million square feet, with vacancy rates soaring to 40%. Landlords are going all-in, offering brokers up to $15 per sq ft (vs. the usual $1–$3) and even golf trips or resort stays to lure tenants. The ultra-green PAE Living Building, built in 2020, remains mostly empty despite its eco-design. Brokers admit these insane incentives aren’t working. The slump? It’s not just remote work—it’s safety fears, high taxes, and a city losing businesses and income. Experts say the real fix isn’t bribing brokers but rethinking how buildings match tenant needs—and whether there’s actual demand for offices. Solutions like converting offices to housing or deregulating small biz are being floated, but for now, owners are desperate to fill the void.

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