Most listings are in the $20's per square foot per year. The Sommerset West - Elmonica South region is seeing a decline in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 32% decline in rent.
Compared to the rest of the Greater Portland market, the Sommerset West - Elmonica South region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 8 listings have been posted online, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. About 25% of the office spaces in the Sommerset West - Elmonica South are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 17,190 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 2 stories. Most buildings in this market were built in 1999 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 market. Commute by taxi is the most popular way to get to work amongst Sommerset West - Elmonica South folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.