How many Class A submarkets are in Portland (OR)?

5, ranging from trophy (Pearl District) down to established and emerging clusters.

Portland (OR) has 5 distinct Class A submarkets we track, anchored by Pearl District at the trophy tier.

5 submarkets covered.
Trophy tier: Pearl District.
Prime tier: Lloyd District, South Waterfront.
Established/emerging tier: Downtown, Beaverton / Hillsboro.

Portland (OR) Class A submarkets

Portland (OR) has 5 distinct Class A submarkets we track, anchored by Pearl District at the trophy tier.

TL;DR

5 submarkets covered.
Trophy tier: Pearl District.
Prime tier: Lloyd District, South Waterfront.
Established/emerging tier: Downtown, Beaverton / Hillsboro.

By tier

**Downtown** (established, ~$32/sqft/yr) — Repricing legacy CBD. **Pearl District** (trophy, ~$42/sqft/yr) — Creative-class trophy submarket. **Lloyd District** (prime, ~$30/sqft/yr) — Convention-anchored mixed-use cluster. **South Waterfront** (prime, ~$38/sqft/yr) — OHSU-anchored life-sciences submarket. **Beaverton / Hillsboro** (established, ~$28/sqft/yr) — Tech and apparel suburban corridor.

Key facts

city	Portland (OR)
country	United States
region	Americas
classARentLocal	32 USD/sqft/yr
classARentUsd	$32/sqft/yr
vacancy	27.8%
typicalLeaseYears	7
typicalRentFreeMonths	16
submarkets	5
primeYieldPct	7.4%
trophyCount	1
primeCount	2

Frequently asked questions

How many Class A submarkets are in Portland (OR)?: 5, ranging from trophy (Pearl District) down to established and emerging clusters.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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