At mid-year 2019, the Portland industrial market slowed to negative absorption for the first time since mid-2009. Although Q2 2019 saw multiple deals completed, the number of move outs was closely equal concluding the quarter with negative 48,253 sq. ft. of absorption.
The industrial vacancy rate increased by 10 bps quarter over quarter to 3.3% but was still down from 3.6% in Q2 2018. Tightest vacancy was found in the Sunset, Southeast, and Clark County submarkets.