Commonwealth Building — Lease in Portland, OR

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Portland, OR 97204

Description

The Commonwealth Building, built in 1948, was a revolutionary advance in modern architecture. The building, designed by world renowned architect Pietro Belluschi, is perhaps Portland’s most significant piece of commercial architecture, and was named as one of the fifty most significant buildings constructed in the United States during the 1900’s.

Market Context

This office in Portland, OR is listed for lease. It has been on the market for 195 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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