The typical asking rate per listing is in the $40's per square foot per year. The Downtown Portland region is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 3% decrease in rent.
Compared to the rest of the Greater Portland market, the Downtown Portland submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 861 listings have been listed, so you'll want to check back regularly for new listings. About 12% of the available space in the Downtown Portland are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 3,630 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 11 floors. Most buildings in this region were built in 1930 and are Class A.
This area is fairly equally mixed residential and commercial. Arts, entertainment, and restaurants are the dominant industries in this area. Most of the residents of Downtown Portland work from home. Commuting close to 20 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Downtown Portland.
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