The typical asking rate per listing is in the $30's per square foot per year. The Five Oaks submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $32 per sqft per year.
Compared to the rest of the Greater Portland market, the Five Oaks region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 5 listings have been listed, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 20% of the available leases in the Five Oaks are subleases, so you might be able to snag a great spot on a short term. 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 2,820 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this region are close to 2 floors. Most buildings in this region were built in 2001 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Five Oaks residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.