Commercial property leases up in July
Many individuals find living in a thriving metro with a strong economic condition a boon, especially considering the past few years. As a result, Portland residents may find the news of strong commercial leasing trends comforting. When more space is leased, businesses move in and create jobs for local professionals.
In July, more than 605,000 square feet of commercial real estate space was leased to commercial enterprises, Portland Business Journal reports. These areas were purchased by every type of business available. As a result, a wide variety of industries in the Portland area should see an uptick in hiring. The professional and service industries are especially strong in the metro, with 135,800 and 103,000 jobs respectively, according to the U.S. Department of Labor.
As the economy continues to improve in this metro, residents may want to consider searching the MLS listings in Portland for the home of their dreams. The commercial and residential real estate industry is poised to recover, and a smart Portland native can take advantage of the promising market changes.