One Portland building holds 6.9% of all new Oregon business filings

Published September 13, 2026. Data through September 8, 2026.

Between September 8, 2025 and September 8, 2026, 82,683 businesses registered with the Oregon Secretary of State and gave an Oregon address as their principal place of business. 5,713 of them gave the same building: 5441 S Macadam Ave in Portland.

That is 6.9 percent of every new business in the state. Among the 22,665 new businesses with a Portland address, it is 25.2 percent. One filing in four.

Why one building

The building houses four registered-agent companies. A registered agent is the person or company that accepts legal mail for a business. Filing services offer their own suite as the business's principal place of business, so the state record shows the agent's office, not where the business operates.

The count is growing. Monthly registrations at the address roughly doubled over the year.

Month Filings at 5441 S Macadam Ave
Sep 2025 326
Oct 2025 355
Nov 2025 327
Dec 2025 364
Jan 2026 443
Feb 2026 471
Mar 2026 567
Apr 2026 571
May 2026 548
Jun 2026 656
Jul 2026 669
Aug 2026 416

August is low because the state publishes registrations in batches and had not finished the month as of September 8.

Who is in the building

Four registered-agent companies. Each filing names its agent, and the registry records the agent's address, so the count per company is in the public data.

Company Filings naming it as agent at 5441 S Macadam Ave (active, all years) Oregon filings in the last 12 months
Registered Agents Inc (Suite R) 17,524 5,292
Northwest Registered Agent LLC (Suite N) 14,135 6,648
InCorp Services, Inc. (Suite C) 2,554 310
Oregon Registered Agent LLC (Suite A) 1,101 411

The reason is a product. Oregon Registered Agent sells agent service for $35 a year and says on its site: "You can list our business address instead of your own on state paperwork to protect your privacy by preventing your personal information from going on the public record." Northwest Registered Agent was founded in Spokane in 1998. Registered Agents Inc was founded in 2008 and is based in Sheridan, Wyoming; Fortune reported in 2026 that it is the largest business formation provider in the United States. So the doubling over twelve months is a sales curve for these companies, not a change in how many businesses Portland is forming.

The companies in the building are connected

Each of the four is itself an Oregon-registered business, so each has a registered agent of its own on file. Three of them name each other.

Company Its own registered agent in Oregon
Northwest Registered Agent LLC (Wyoming LLC, in Oregon since 2008) Registered Agents Inc, Suite R
Registered Agents Inc (Wyoming corporation, in Oregon since 2011) Northwest Registered Agent LLC
Oregon Registered Agent LLC (Oregon LLC, since 2014) Registered Agents Inc
InCorp Services, Inc. (Oregon corporation since 2003, principal office in Las Vegas) itself, at the building

The building's owner points the same way. Multnomah County's assessor lists the owner of 5441 S Macadam Ave, a 12,470 square foot office built in 1979, as Two Jon's Landing LLC. That is a Wyoming LLC registered in Oregon on March 14, 2024. Its principal place of business on the Oregon filing is 30 N Gould St, Sheridan, Wyoming, which is the headquarters address of Registered Agents Inc. Its mailing address is 5441 S Macadam Ave Ste R, and its registered agent is Registered Agents Inc. Oregon Registered Agent's website says the company fully owns its building.

None of this says who owns whom; Oregon filings do not record ownership, and Northwest Registered Agent does not disclose its owners. It does say that three of the four agents in the building, and the building's owner, run their own Oregon paperwork through each other and through one address in Sheridan. InCorp Services, the fourth, is a Nevada-based company that uses the building only as its Oregon agent address, and nothing in the filings ties it to the other three.

Half of the commercial-agent market

The principal-address count understates the building. Most businesses that use it as their agent still give their own address as the principal place of business. Counted from the registered agent row on each filing instead, for businesses registered in the last 12 months:

Registrations in the last 12 months with a registered agent 75,174
Agent is an individual, usually the owner 51,446 68.4%
Agent is a company 23,728 31.6%
Agent is Northwest Registered Agent or Registered Agents Inc 11,940 15.9%

So the two largest companies in the building are the registered agent for one in six new Oregon entities, and for 50 percent of the new entities that use a company as their agent. Across all 449,991 active filings with an agent, the same two hold 32,517 of the 130,902 company-agent filings, 25 percent. New filings run at double the all-time share.

Assumed business names are left out. They have an authorized representative rather than a registered agent, so the state records no agent for them. They are 21,096 of the 96,234 registrations in the twelve months.

Oregon's registered-agent companies, ranked

The same registry field gives the whole market. The top ten by new filings in the last twelve months, with the address the registry records for each:

Registered agent Last 12 months All active filings Recorded address
Northwest Registered Agent LLC 6,648 14,516 5441 S Macadam Ave Ste N, Portland
Registered Agents Inc 5,292 18,001 5441 S Macadam Ave Ste R, Portland
Corporation Service Company 1,386 17,351 1127 Broadway St NE Ste 310, Salem
C T Corporation System 1,237 13,978 780 Commercial St SE Ste 100, Salem
United States Corporation Agents, Inc. 1,121 4,237 5020 NE Martin Luther King Jr Blvd, Portland
Stevens & Legal, LLC 586 1,788 3400 NE John Olsen Ave Ste 200, Hillsboro
Registered Agent Solutions, Inc. 436 2,963 7185 SW Sandburg St Ste 110, Portland
Cogency Global Inc. 434 4,027 698 12th St SE Ste 200, Salem
Oregon Registered Agent LLC 411 1,101 5441 S Macadam Ave Ste A, Portland
Republic Registered Agent LLC 406 1,552 942 Windemere Dr NW, Salem

Two markets sit in that table.

The Salem agents serve companies from outside Oregon. Of the filings naming an agent at 780 Commercial St SE in the last twelve months, 88 percent are foreign entities, meaning formed in another state and registering to do business here. At 1127 Broadway St NE it is 93 percent, at 698 12th St SE 84 percent, and at 7185 SW Sandburg St 82 percent. These are compliance agents for out-of-state corporations, and their books are large and steady: Corporation Service Company and C T Corporation together hold 31,329 active filings but took 2,623 new ones this year.

The Portland and Hillsboro agents serve new Oregon LLCs. At 5441 S Macadam Ave, 87 percent of the new filings are limited liability companies and 24 percent are foreign. At 3400 NE John Olsen Ave, where the law firm Stevens & Legal sells agent service for $45 a year and tells buyers of its privacy package they "can then use that same address for any of the other addresses requested by the Oregon Sec. of State," it is 92 percent LLC and 11 percent foreign. That address also appears as the principal place of business on 498 filings in the twelve months, the second highest in the state after Macadam.

Two of the ten are at addresses marketed as virtual offices. United States Corporation Agents, Inc. is named on 1,703 active filings at 5020 NE Martin Luther King Jr Blvd, an address Opus Virtual Offices sells at $99 a month with live call answering; LegalZoom.com, Inc. is named as agent on three filings at the same address. Filings naming an agent there by registration year: 28 in 2022, 42 in 2023, 216 in 2024, 650 in 2025, and 769 so far in 2026. At 12725 SW Millikan Way in Beaverton, which Davinci Virtual markets as executive suites with a registered agent add-on at $169 a year, three agent companies are named on 1,667 active filings. The Secretary of State's guidance says a registered office "must be a physical street address where the registered agent maintains a business office and can accept or sign for legal service," and that it cannot be "a PO Box or a mail forwarding business." Whether a staffed virtual office meets that test is not something the registry data can say.

It is mostly two buildings

Fourteen Oregon addresses received 25 or more new filings in the twelve months. Together they hold 6,619 filings, 8.0 percent of the state total. Two of those addresses hold 6,209 of the 6,619. The third address on the list has 48.

Address New filings, 12 months
5441 S Macadam Ave, Portland 5,713
3400 NE John Olsen Ave, Hillsboro 496
Next highest address in Oregon 48

So the effect is concentrated where those two buildings are.

City New filings At a shared filing address Share
Portland 22,665 5,854 25.8%
Hillsboro 2,265 537 23.7%
Lake Oswego 1,287 163 12.7%
Medford 1,859 25 1.3%
Eugene 3,335 36 1.1%
Salem, Bend, and most other cities 0 0.0%

What it means if you use the list

If you pull new Portland businesses from the state's open data and mail them, one envelope in four goes to a registered agent's suite. For Hillsboro it is about the same. For Eugene, Salem or Bend the raw list is close to clean.

Removing those rows is the first thing we do to the registry before it goes into a city feed.

How this was counted

Source: the Oregon Secretary of State business registry, dataset tckn-sxa6 on Oregon Open Data. Rows with an associated name type of principal place of business, a registry date between 2025-09-08 and 2026-09-08, and an Oregon address. Street addresses were normalized and suite, unit and box numbers removed before counting, so suites N, R and A and the "# 5914"-style unit numbers of the same building count as one address. A shared filing address is one that received 25 or more new filings in the twelve months. The all-time count at 5441 S Macadam Ave is 14,997 active businesses. Agent counts use the registered agent address recorded on each filing, normalized the same way. A commercial agent is an agent address shared by 25 or more businesses. The 12-month agent figures cover the 75,053 registrations that have an agent address recorded, which is every entity type except assumed business names.

Sources

Source: Oregon Secretary of State business registry and related public filings, via Oregon Open Data. Counts only; no business is named. Not affiliated with the Oregon Secretary of State.