On average, listings lease in the $30's per square foot per year. The Sommerset West - Elmonica North region is seeing a a rise in rates. In the last 3 months, the median rate rose $31 per sqft per year.
Compared to the rest of the Greater Portland market, the Sommerset West - Elmonica North submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 2 listings have come on the market, which means office spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 100% of the available space in the Sommerset West - Elmonica North 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.
The standard measurement for office space in this area is around 1,380 sqft. Most buildings in this market are approximately 1 stories. Most buildings in this market were built in 1988 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Most of the folk of Sommerset West - Elmonica North work from home. Commuting close to an hour a day is the norm for those who opt to reside in this part of town.