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On average, commerial real estate listings lease in the $30's per square foot per year. The Pearl submarket is going through a decrease in rates. In the last 3 months, the median rate for lease decreased $4 per sqft per year.
Compared to the rest of the Greater Portland commercial real estate market, the Pearl region has more expensive rates for rent, and you may need to make a great offer to be in this hot submarket.
In the last 90 days, 129 commercial real estate listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the commercial real estate listings in the Pearl are subleases, so you will probably have to focus your search on direct leases. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 4,500 sqft. Most properties in this area are close to 6 stories. Most buildings in this market were built close to 1939 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this region. Commute by motorcycle is the most popular way to get to work amongst Pearl folk. Commuting under 5 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 Pearl.
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