Portland’s strong economy is spurring demand for the metro’s office market. New supply reached a cycle peak in 2018, with 1.7 million SF delivered. More than 2 million SF has been actively under construction since the end of 2016. However, much of the newest space is build-to-suit, primarily campus expansions for Nike and Adidas. As of May 2019, annual rent growth has moderated over the past year and is now comparable to the historical average. For the full breakdown of all Portland submarkets, see details in the latest Market Report.