COVID-19 Coronavirus impacts commercial real estate in the Pacific Northwest because of a strong trade relationship with China
COVID-19 has hit the Puget Sound harder than any other metro in the United States. While Portland has not borne the brunt, the number of cases continues to grow. Long-term impacts to commercial real estate will likely include increased janitorial expenses as landlords realize the importance of proactive hygiene. Additionally, companies may begin to focus more energy on implementing remote-work policies. As supply chains are disrupted, there will be ripple-effects felt throughout the US and global economy for months to come.
For insights, please download our whitepaper.
About the Author:
Jacob is research manager in Colliers’ Portland office where he collects, analyzes, and synthesizes market data for Oregon and Southwest Washington. He loves the challenge of taking complex data and making it easily digestible for a wide audience. He publishes five quarterly reports: Office, Skyline, Industrial, Multifamily, and Flex, for the Portland metropolitan market. In addition, he assists brokers with research specific to their client’s needs, including geovisualizatoin and micro-market analysis.