Portland’s 20 largest office buildings have lost $2 Billion in market value since 2019

Google–Downtown Portland, Oregon, has experienced a significant decline in commercial real estate value, with the top 20 largest office buildings losing nearly 70% of their market value since 2019. This represents a drop in combined value of more than $2 billion.

Key details regarding the loss in value include:

Office Sector Crisis: Many major downtown office towers have seen value losses ranging from 70% to 85%.
Drastic Sales Examples:

Montgomery Park sold for $33 million in 2025, compared to $255 million in 2019.

Big Pink (one of the city’s most recognizable towers) sold in July 2025 for $45 million, roughly 12% of its $372 million sale price in 2015.

PacWest Center sold for $55 million in October 2025, down from $170 million in 2016.