Cascade Plaza West 12655 SW Center St

Beaverton is a suburban city to the southwest of Portland, replete with parks and ample green space. Local population growth is fueled by the area’s relatively affordable cost of living, in comparison to nearby suburbs like Lake Oswego and West Linn.

In recent years, new apartment development has attracted more residents to the area. Beaverton has a moderately sized multifamily inventory of around 16,000 units, and the number of high-end units constructed has increased substantially in recent years, a reflection of developers beginning to attempt to lure higher-paid renters to the area. Beaverton provides nearby access to both Interstate 5 and Highway 217, as well as the WES commuter rail, facilitating a car-free commute between Beaverton, Tigard, Tualatin, and Wilsonville.

Beaverton boasts an array of corporate tenants, including the headquarters of Nike and Tektronix. Workers and residents alike take advantage of area restaurants and retailers in nearby downtown. Shopping centers dot the neighborhood, and Washington Square, among the largest malls in Oregon, is also located further south off Highway 217 in Tigard.

Office development is primarily clustered in three main nodes: the Nimbus Corporate Center west of Washington Square Mall, in and around downtown Beaverton, and the Nike and Tektronix campus corridors along Jenkins Road and Murray Boulevard.

With a strong larger corporate tenant base and some prevalence of owner occupancy, landlords can dependably rely on vacancies running below market averages. Rent growth, in turn, is also trending above the larger region by a few basis points. Office occupiers enjoy access to a deep pool of employment talent, given the dynamic workforce.