Commonwealth Building — Lease in Portland, OR

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Portland, OR 97204
  • Size: 224,000 SF
  • Year built: 1947

Description

Commonwealth Building - Available for lease

Market Context

This office in Portland, OR is listed for lease across 224,000 SF. The building dates to 1947. It has been on the market for 209 days. Compare it against other office listings for lease in Portland, OR — view the full market.

As of Q1 2026, the Portland office market showed a 27.1% vacancy rate, average asking rents near $32.00/SF/yr, and rents up 4.8% year over year. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Office market FAQ

Is the Portland office market tightening or softening?
Vacancy is around 27.1%, with asking rents rising year over year (Q1 2026).

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