This article originally appeared in the Portland Business Journal on December 23, 2025.
Economic uncertainty showed up in myriad ways in Portland in 2025, including with increased downtown office tower sales and an intense focus on building new housing.
Local real estate experts are anticipating more of the same in 2026.
Here’s what Alisa Johnston, SVP for Washington Trust Bank’s Portland Commercial Banking team predicts for the market in 2026.
On 2025 in commercial real estate: We never thought we’d see the sales prices of some beloved downtown buildings go that low. I’ve been in banking for 45 years and I’ve seen the cycles come and go but this year, seeing what happened was a shock for all of us to see prices go that low, especially on landmark buildings.
Alisa Johnston
VP / Team Leader
Portland Commercial Banking
VP / Team Leader
Portland Commercial Banking
I think there is true optimism. We have to look at what’s going on across the metro...We have to keep pushing forward. We should be supporting Portland and not turning our backs on it because this is the heart of our state."
Read the full article at Washington Trust banker on real estate repricing, interest rates and optimism in 2026.