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Why Empty Office Buildings Are Costing Mid-Sized Cities Like Portland Millions

DeFi Daily News by DeFi Daily News
May 1, 2026
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After five years of unprecedented pain the U.S. office market is showing new signs of life. But for mid-sized cities like Portland the story is a little different. Empty store fronts, vacant office buildings, and a struggling downtown isn’t just an eye sore, it’s having a real impact on the city’s bottom line. Now, the city has plans to address the vacancies. Diana Olick reports.

Reporter: Diana Olick
Produced by: Devan Burris
Edited by: Darren Geeter and Andrea Miller
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty

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Why Empty Office Buildings Are Costing Mid-Sized Cities Like Portland Millions

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Tags: BuildingscitiesCommercial Real EstateCostingdowntownEmptymidsizedMillionsneighborhood planningnew yorkOfficeoregonPortlandproperty playproperty taxProsper Portlandreal estateRestaurantsRetailsan franciscostoresurban renewal districtsvacanciesvacant
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