A 2025 year-in-review from NAI Elliott President, Jordan Elliott, on delivering value, earning trust, and executing with discipline.
Portland’s commercial real estate market continues to require a rare mix of realism and discipline. As we close out 2025, one thing is clear: the firms that deliver value, build trust, and stay adaptable are the ones best positioned to lead through uncertainty. This year brought elevated office vacancies, selective capital, and tenants who expect more clarity and accountability from their partners. Despite the volatility, we repeatedly found ways to help clients navigate complexity and make confident, well-supported decisions.
Across our portfolio, owners, investors, and tenants sought strategic guidance grounded in operational rigor. They wanted teams who could separate signal from noise and pair optimism with execution. The most effective work we did this year centered on a few consistent themes.
Retention is a financial strategy, not just a metric
In a market where backfilling space takes longer and costs more, tenant retention has been one of the most important drivers of asset stability. Early renewals, transparent communication, and proactive problem-solving consistently produced better outcomes than reactive leasing. By helping clients anticipate needs and structure renewals creatively, we protected NOI and positioned assets to outperform a challenging environment.
Big ideas require grounded feasibility
Portland spent much of the year discussing large-scale concepts—office-to-residential conversions, sports and entertainment proposals, and major repositioning efforts. We partnered with clients to evaluate these ideas through a realistic financial and physical lens. Whether assessing how to reposition a downtown asset or weighing the real implications of a proposed stadium, our role was to translate vision into feasibility. Ambition matters, but only when paired with data, due diligence, and a clear path to execution.
Operational trust has become a market advantage
A notable shift this year was the increased emphasis on transparency, systems, and third-party verification. SOC 1 Type 2 audits, AMO accreditation, and B Corp certification are no longer peripheral—they are meaningful indicators of risk management, internal controls, and service integrity. Owners and tenants want to understand how their properties are managed, how reporting is validated, and whether their advisors have the infrastructure to support long-term reliability. Demonstrating tested systems and accountable processes has strengthened relationships across our platform.
Intentional decision-making creates alignment
Many owners reevaluated their portfolios and management strategies in 2025. The strongest outcomes emerged when decisions aligned operating resources with long-term objectives—not simply through cost-cutting but through thoughtful realignment. Disciplined decision-making builds clarity for all stakeholders and ensures execution matches strategy. It also reinforces confidence in uncertain periods.
Service is the strategy
Responsiveness has never been more consequential. Consistent communication, clear next steps, and mutual accountability created measurable value for owners, tenants, brokers, and partners alike. In a market where conditions shift quickly, service quality is no longer a differentiator—it is a strategic imperative.
Looking ahead: prepared, focused, and people-first
We do not expect 2026 to simplify the Portland CRE landscape. Some sectors will continue to recalibrate while others show renewed momentum. Success will depend less on predicting timing and more on readiness, discipline, and adaptability.
At NAI Elliott, we are preparing accordingly:
Enhancing reporting tools to provide faster, cleaner insights
Growing brokerage teams that combine data literacy with execution discipline
Investing in internal training to ensure consistent, high-standard service
Participating actively in industry conversations shaping Portland’s next era
Ultimately, what matters is simple:
That clients see results—and understand the systems behind them
That our people have the clarity, structure, and support to lead with confidence
And that our values show up every day in our actions, not just in our messaging
If you partnered with us this year, thank you. If you are evaluating how to better manage, lease, or position your assets in 2026, we would welcome the conversation.
Here’s to clarity, confidence, and disciplined progress in the year ahead.
