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

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 » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Use coupon code EARLYBIRD for 20% off. Offer valid from April 20, 2026 to May 4, 2026. Terms apply. https://cnb.cx/4sGlSkh Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Why Empty Office Buildings Are Costing Mid-Sized Cities Like Portland Millions